MLP business income loss carry over to next year?

[Anonymous]

I own few energy PTP (MLPs) and I have sold some MLP in year 2018. Some of them had business income losses in 2018.

In TurboTax (in my 2018 tax worksheets) I can see that it states

Qualified business Income Carryovers

H  PTP income suspended Loss   (-100) (I made up this number).

I had sold this MLP. For 2019 taxes If delete this MLP from information sheet (as I don't have any new K1), would this "Carry over loss" will be lost in translation?

How to handle this?

[M-MTax]

Not a good idea to delete an information sheet....the carry over could disappear.

[Anonymous]

if you sold the MLP in 2018 then you did something wrong because it should not appear in the 2019 TT. did you check "final" and then complete the disposition info the MLP would have provided.  if not your 2018 is probably in error.  if you used brokers 1099B - did you use the corrected cost basis that would have come from the supplemental disposition report the MLP would have provided along with the amount, if any, of gain that wss ordinary income.

anyway if you fully disposed of a MLP in 2018, you can delete the k-1 input form from the 2019 TT

in 2019 if you disposed of an MLP you should have received  a K-1 even if sold on 1/2/2019

[Anonymous]

I guess there 3 questions

I own several MLPs. Some I had Sold (all shares/units) in 2018

When started 2019 Tax return, TT asked if I want to import my info from year 2018 into year 2019. I clicked YES. TT imported all my 1099 brokerages and MLP (k1) entities info into this year. Info was primarily contact, address or tax ID and carry over losses.

1.  Some of SOLD MLP had NO carry over losses and No further K1.  I deleted those

2. Some of SOLD MLP had carry over losses which I was NOT able to use for 2018 tax. No further K1 but software remember carry over losses as I can see this info in worksheets.

3. For Example. Capital losses are Off set by Capital Gains. What kind of income I need to offset these Carry over loss (ordinary business income Box 1)? Income from other MLPs? Does it has to be MLP or any business income or can it be wages or interest income. Interest are taxed as regular income?