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Business & farm
This makes sense as you don't really have a disposition.
Not sure if your Line L is marked "tax basis", if it is great. If not, hopefully you are maintaining this as your tax basis will carry over.
Your suspended losses would free up if this was a complete disposition, but since it is not, these will carry over to the new LP. You will need to eliminate these from the "old" and input them in the "new". I believe there are some options to "eliminate" the "old" K-1; choose other disposition. Will ask for some details regarding disposition. Just input some figures that reflects no gain or loss; proceeds equals basis.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎June 4, 2019
6:24 PM