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Business & farm
Your latest questions are tax code related and not TT specific. If you don't understand passive/active losses and limits, and how partnership income/expense is reported on a 1065 and flows down to members through a K-1, you REALLY should hire a tax attorney and CPA to help you. After a year or two, you should understand well enough to once again do your own taxes.
But in the meantime, have you entered ALL k-1's? You might have other partnerships that actually made passive $ and your loss should offset some of this $.
May 8, 2022
4:47 PM