To report your gain/loss for this investment, go back to the Schedule K-1 entry screens and follow these steps:
- Describe this Partnership; "This partnership ended in 20XX" and "Complete disposition."
- Tell Us About Your Sale: "Sold Partnership interest." This allows you to report the gain/loss.
- Enter Sales Dates: initial contribution date and date the investment shut down.
- Enter Sale Information:
Sale Price = 0
Partnership basis = initial contribution adjusted for any activity from Schedule K-1.
- The next page displays the gain/loss summary for the investment.
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