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Do the Cumulative Passive losses on K1 (Form 1065) code 99047 only impact taxes when the limited partnership shares are sold or can it be entered in Turbo Tax each year?
The K1 shows code 99047 Cumulative Passive loses of a certain amount but there is no where to enter it using Turbo Tax. I am wondering if I need to go to a Form to record this or if it is "for your information" and not used until the shares of Limited Partnership are sold.
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‎June 1, 2019
12:52 PM