Thank you. I'm trying to understand what you're saying.
What is unrecovered tax basis? Where will I find out if I've 'unrecovered' tax basis?
This is my understanding. Since this is/was a real estate partnership, they do all this accelerated depreciations in the first few years, and that can be used against any profit from the sale/dissolution of any other partnerships going on that year. And if there is no sale going on in a year, and therefore I've no profit to write it off against, those depreciation 'expenses' can just accumulate (and never expire) for future use. So I'm thinking that if delete the K-1 entry for this dissolved partnership, whether I'll somehow lose all the accumulated depreciations/expenses that I can use in future against the sale/profit of the next real estate partnership (I still have a couple of more left).
Thank you in advance.
