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Business & farm
@shhughes1116 Since the transaction details can vary, you should check with the partnership on when the suspended losses can be recognized. TT can track them from K-1 to K-1 (as I've described above), or recognize them when appropriate, but I'm not expert enough on the specifics of these non-taxable conversions to tell you what the correct treatment is.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎April 7, 2025
9:40 AM