- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
K1 for a partnership that closed in 2018 notes sch L syndication costs may be deductible as a capital loss. How do I do that?
I invested in a REIT in 2008 which ended in 2018 (and didn't make much $$). The K1 Part II section L "Ending capital account" ends up at 0, but there is a note that says "Included in your schedule L is your share of syndication costs which may be deductible as a capital loss" with the amount at nearly $3K. How do I take advantage of this using TT and how do I know if the amount is indeed deductible?
Also, what is the proper way to indicate to TT H&B or on the IRS forms that the partnership was closed out? Which type of disposition is correct?
Topics:
‎June 4, 2019
8:15 PM