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If the K1 I received shows a loss, do I need to enter it in this years tax return or wait until I sell the units or get positive activity in a future year?
The K1 shows the loss reducing my cost basis. Per the K1 instructions if the net result is positive the info should be reported on your 1040: if negative the loss will be suspended until there are positive returns or you sell the units. So it's confusing whether I should enter it this year in turbo tax.
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‎June 1, 2019
11:44 AM