Thank you. Any answers are helpful, appreciate it!
My initial contribution was $100K. My 2022 Schedule K-1 said I lost $45K and My 2023 Schedule K-1 said I gain $50K. My asset is worth $105K at the the end of 2023. Then I took $55K out, leaving $50K in my account.
This is a capital investmetn and only $3K can be deducted each year. Therefore The $45K loss should carry over to this year. to offset the $55K gain.
However, I could not find a place in Turbo tax NJ state asking me to enter the loss from last year.
