bad mistake. should have consulted a pro when you were about to sell the property to see if the partnership needed to be liquidated in order for you not to encounter the problem of having passive losses and a capital gain that is not passive. thus you end up with a situation where you get taxed on the gain but those losses will remain suspended until the partnership folds. of course there could be facts you have not revealed that could change what I have said. why wasn't the partnership liquidated? at the end of the year what was left in the partnership? maybe you pro is looking at info we don't have and is taking the view that for practical purposes the partnership was liquidated. (could be different if for an LLC because the state law may require the filing of dissolution paperwork). if it's his opinion that the partnership was liquidated, let him prepare the amended returns a final return for the partnership and amended returns for the partners.
