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Partnership Dissolved - How do I Offset Cap Gain with Suspended Losses?
I received a final K1 which shows Net Long-Term losses of $1,451. I have suspended passive losses from prior years totaling over $7,000. How can I get Turbo Tax to offset the capital gain with some of the suspended losses? I have checked the box that the "partnership ended in 2021" and that the "disposition was not via a sale", but the passive losses are still suspended. What am I missing?
March 29, 2022
4:20 PM