Passive loss deduction after partnership ends

[Kreitzberg]

I have passive loss carryovers from a partnership that ended in 2022 but TT does not let me deduct those losses.  My investment was all at risk.  The software does allow the deduction if I state that I had completely disposed of my interests in 2022 but not when I indicate that the partnership ended. 

[RobertB4444]

You have to tell it that you completely disposed of your interests.  If the partnership is over then that is true as well.  Passive carryover losses are only allowed in the year that the passive activity is completely dissolved.

@Kreitzberg 

[Kreitzberg]

But I did not dispose of any interest, I.e. sell, the partnership just dissolved which should be enough to allow the deduction.  If I indicate that I disposed of the interest TT goes on to ask when was the sale. 

[RobertB4444]

You did dispose of your interest.  You don't have it any more.  

The date of the sale was the last day you did business and the sale price was $0.

@Kreitzberg 

[nexchap]

@Kreitzberg Note that there's a screen after you check 'Complete Disposition' where you can choose between sales, abandonment, liquidation, and death as the reasons the partnership ended.  Then that "Sale" screen is really where you just capture the date things ended, and whether you received anything in the process.