Loss from K-1 not showing on Schedule E

[chrissim2]

I am a limited partner in an LLC. We sold our rental in 2022. This year we only had interest income from an I- Bond and a bank CD.  We had a loss since our expenses were more than the income.  We dissolved the LLC in Dec 2023.  I was having issues with entering the information that was brought over from 2022, so I deleted the K-1 and started over.  I showed the LLC as a disposition via no sale.  I added all of the information from the K-1 including box 2 as a negative number.  Now it will not show the loss on Schedule E under passive loss amount.  It seems there is a loss limitation.  Why is that?  How can I get the loss to show on Schedule E?

[Mike9241]

proceed as follows.

1) the all-at-risk box must be checked unless you weren't

2) check the box final k-1 box

3) check the box that the partnership was discontinued in 2023

4) check the box you disposed of your entire interest

5) indicate on subschedule (additional info worksheet)

a) check the box complete disposition

b) enter the dates your interest was acquired and the final date of partnership as date disposed

c) enter sales price which would be zero and for cost assuming you recovered all your tax basis also zero

d) indicate how your interest was acquired

that should be all that''s needed for the loss to show up on schedule e page 2. 

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