TT doesn't have an automatic method to process "my company was taken over in a stock-for-stock" transaction. The way I've handled this is to not treat the acquired company as though it has not ended this year, and then resolve it next year:
- Fill out SXL just as though it was an ongoing entity. You'll have suspended losses.
- Fill out ETP as normal too
- Next year, when you fill out your 2018 return, you'll enter ETP as normal and when you get to the questions about carryover losses from prior years you'll add the SXL carryovers to the ETP entries. You can do this, and still keep an electronic record, by using the "Add Supporting Details" option for each entry you're changing.
- Finally, delete the SXL K-1 from your 2018 return.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
