I have invested money in some partnerships and have a K-1 for each of them.
In TurboTax, it asks to "Describe the Partnership", and I want to know when I should select the box for "All of my investment in this activity is at risk".
I assume that it IS at risk, if I have invested my own money in this partnership and I have not received any income back.
However, this year, a partnership was able to return ALL of my investment, plus additional income. This amount is shown in the K-1 box 19 under "Distributions". In this case, do I NOT select the "All of my investment is at risk" box?
What about if I receive some money back, but still not ALL of my original investment? Do I select the "ALL of my investment is at risk" box?
Are any of my losses "passive activity losses" carried over from last year, or do I have "at-risk losses" carried over from 2020"?
