I received a K-1 for a passive investment (Llp limited partner). The “Partner’s Capital Account Analysis” section shows the $25k investment and the $25k loss, but it’s not marked as the final K-1. It was for a Broadway show that closed last year. Do I/can I check the box in TirboTax saying that the entity ended in 2024 and then list my cost basis and check that my investment was liquidated for $0, or do I just let it go on as of the show is still running? Trying to avoid a huge qualified business income carry forward that I likely wont be able to use up in my lifetime!
my primary income is from retirement 1099 and wages.
