there are some other things you need to do. check that the k-1 is final. check that you disposed of your entire interest. use the quick zoom link to enter certain info. assuming this liquidation is not reported on a broker's 1099-B you need to enter liquidation proceeds as the sales price and basis before liquidation proceeds. this is crucial so that passive losses are allowed. just entering final k-1 does nothing to free up these losses.
