How do i report suspended MLP losses carried forward to the current tax year ; I have not sold the mlp

johnbaumgartner7 — Sat, 01 Jun 2019 15:45:09 GMT

As an example assume 1000 dollars of net income reported for the mlp in 2017, but 1000 in suspended losses is available to offset this income. Where do i enter the suspended loss carried forward?

TT should do that automatically for you, assuming you use...

nexchap — Sat, 01 Jun 2019 15:45:12 GMT

TT should do that automatically for you, assuming you used it in prior years so its aware of the suspended losses. In forms mode, look at "Section A" of the K-1 for your MLP. Column B will show the prior suspended losses and Column C will show you how much of that is being used this year.

If you didn't use TT in prior years, part of the interview process asks you about prior year losses. You can enter whatever you've calculated as suspended, and then TT will automatically allow the appropriate credits.

topic How do i report suspended MLP losses carried forward to the current tax year ; I have not sold the mlp in Business & farm

How do i report suspended MLP losses carried forward to the current tax year ; I have not sold the mlp

TT should do that automatically for you, assuming you use...