phedwards2
Level 3
Member profile
- Replies
- Posts
-
No, only General Partner. Limited Partner is Passive, even for O&G companies.
-
Well I understand it now. In my case, the K-1 Box 1 was blank, but I had to select it anyway in TT and then just leave it blank - then you can say No to materia...
-
Thankyou guys - I think I'm getting it now. I need to calculate my Basis Limitation and my At Risk Limitation. I can deduct the lower of the two. Both calcs are...
-
Sorry for the confusion - should I start a new thread?(if I can continue in this thread, how/where do I see the $150k carryforward in TT due to the basis limita...
-
Yes I invested $100k in the partnership and had $250k nonpassive losses, so I could only deduct $100k this year (limited by my invested amount). So I would like...
Activity Feed for phedwards2
- Posted Re: K-1 IDC (Intangible Drilling Costs) should be Active Income, not Passive on Deductions & credits. November 17, 2022 7:30 AM
- Posted Re: K-1 IDC (Intangible Drilling Costs) should be Active Income, not Passive on Deductions & credits. November 17, 2022 2:02 AM
- Got Cheered for Re: K-1 IDC (Intangible Drilling Costs) should be Active Income, not Passive. November 16, 2022 3:58 PM
- Posted Re: TurboTax computes all of that for you. Any suspended loss... on Business & farm. August 31, 2022 7:15 AM
- Posted Re: TurboTax computes all of that for you. Any suspended loss... on Business & farm. August 27, 2022 8:47 PM
- Posted Re: TurboTax computes all of that for you. Any suspended loss... on Business & farm. August 23, 2022 5:23 PM
- Posted Re: TurboTax computes all of that for you. Any suspended loss... on Business & farm. August 22, 2022 5:47 PM
- Posted Re: K-1 IDC (Intangible Drilling Costs) should be Active Income, not Passive on Deductions & credits. April 30, 2022 7:27 PM
- Posted K-1 IDC (Intangible Drilling Costs) should be Active Income, not Passive on Deductions & credits. April 29, 2022 7:43 PM
- Posted Re: intangible drilling costs on schedule K-1 on Get your taxes done using TurboTax. April 29, 2022 7:26 PM
- Posted Re: Can you continue to amortize the refinance costs after the loan is paid off for a rental prop... on Deductions & credits. February 5, 2022 12:04 AM
- Posted Re: Can you continue to amortize the refinance costs after the loan is paid off for a rental prop... on Deductions & credits. February 2, 2022 7:30 AM
- Posted Re: Can you continue to amortize the refinance costs after the loan is paid off for a rental prop... on Deductions & credits. February 1, 2022 5:42 PM
- Posted Re: Can you continue to amortize the refinance costs after the loan is paid off for a rental prop... on Deductions & credits. January 31, 2022 7:24 AM
- Cheered Re: Can you continue to amortize the refinance costs after the loan is paid off for a rental prop... for ColeenD3. January 31, 2022 7:22 AM
- Posted Re: Can you continue to amortize the refinance costs after the loan is paid off for a rental prop... on Deductions & credits. January 30, 2022 2:59 AM
- Got Cheered for Re: Not able to e-file due to simplified AMT foreign tax credit. May 2, 2021 11:35 AM
- Posted Re: Not able to e-file due to simplified AMT foreign tax credit on Deductions & credits. April 27, 2021 11:02 PM
- Got Cheered for Re: Not able to e-file due to simplified AMT foreign tax credit. April 26, 2021 10:17 AM
- Posted Re: Not able to e-file due to simplified AMT foreign tax credit on Deductions & credits. April 24, 2021 10:52 AM