ajsmall65
Returning Member

Question on how to report a tax loss on sale of a partnership

I have been invested for 4 years in an investment partnership.  I earned book income of $98,704 during this period.  The final K-1 estimate and the prior years K-1 have allocated $227,894 of taxes to me.  That means I have to report a tax loss on the sale of this investment of $129,190.  Where and how do I do that?