topic I had losses from a partnership for more than 3 years in the last 5 years. I understand that the IRS may not allow me to deduct the losses. How do I report these losses? in Deductions & credits

I had losses from a partnership for more than 3 years in the last 5 years. I understand that the IRS may not allow me to deduct the losses. How do I report these losses?

anton — Tue, 04 Jun 2019 00:32:19 GMT

Is there a way to delay taking the deduction for these losses? I am not sure how to handle this scenario.

If you are actively running the business to make money, t...

WillK — Tue, 04 Jun 2019 00:32:21 GMT

If you are actively running the business to make money, then you should report the losses. The whole 3 in 5 year bit is not entirely accurate. If you are running and operating your business to make money and have not, then you should report the losses since they are accurate.

Thank you!

anton — Tue, 04 Jun 2019 00:32:22 GMT

Thank you!