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Investors & landlords
Perhaps. The partnership basis continues to be reduced for any losses sustained by the partnership until the basis is reduced to zero or below. You would need to determine your actual partnership basis separately from the sale of the property. At that point it could be part of the adjustment to gain.
As suggested by our awesome Tax Expert @PatriciaV you might consider a tax professional for this final year.
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‎February 2, 2022
5:27 AM
1,166 Views