Level 2

posted Apr 23, 2024 11:43:56 PM

Partnership disposal

I received a final K-1 for a partnership that made an investment in a company that went out of business. On turbotax, the ways to describe this disposal are "no entry," "complete disposition," or "disposition was not via sale." which is the correct choice?

The option "complete disposition" requires a sale date which does not apply.

thank you.

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1 Best answer

Level 15

Apr 24, 2024 12:22:02 AM

"complete disposition," or "disposition was not via sale".

each requires a sales date for which you can use 12/31/2023

"no entry" will cause issues if you have suspended losses. They are now allowable assuming you had enough basis.

1 Replies

Level 15

Apr 24, 2024 12:22:02 AM

"complete disposition," or "disposition was not via sale".

each requires a sales date for which you can use 12/31/2023

"no entry" will cause issues if you have suspended losses. They are now allowable assuming you had enough basis.