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Business & farm
Because this is a final K-1, in addition to the loss reported to you on the K-1 by the partnership for partnership operations during the year, you also have to report your disposition of your partnership interest that was liquidated.
So, those Part II questions are not asking about the same amounts reported to you on the K-1. Instead they are asking about your interest in the partnership that was "disposed" when the partnership terminated: when you acquired your interest in the partnership, when it was disposed of (date partnership ended), your sales price (which may be zero), and the cost basis of your partnership interest on the date the partnership was terminated and all final distributions had been made.
Note that passive losses suspended in prior years can be deducted in the year the real estate property is sold.
[Edited 03/27/2020|11:22am PST]
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