I received a final K1 which shows Net Long-Term losses of $1,451. I have suspended passive losses from prior years totaling over $7,000. How can I get Turbo Tax to offset the capital gain with some of the suspended losses? I have checked the box that the "partnership ended in 2021" and that the "disposition was not via a sale", but the passive losses are still suspended. What am I missing?
I meant to type that I received a final K1 which shows Net Long-Term GAINS (not losses) of $1,451. I have suspended passive losses from prior years totaling over $7,000. How can I get Turbo Tax to offset the capital gain with some of the suspended losses? I have checked the box that the "partnership ended in 2021" and that the "disposition was not via a sale", but the passive losses are still suspended. What am I missing?