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How can a huge loss in box 2 of my K1 not generate a large reduction in my tax liability on Turbo Tax?
I entered a large negative number into Box 2 of Turbo Tax for my K1 from an Oil and Gas Partnership. I was expecting my total tax liability to reduce by a large amount from this entry, it did not move at all. What am I doing wrong? Can Turbo Tax handle Oil and Gas Partnership K1?
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‎June 7, 2019
3:06 PM