Goodwins1
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Thanks for the clarification. I'm currently looking for a better option.
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Thanks. I'll check back with him. He explained that his "professional" version of Turbotax offered different capital gains options, one of which was disposition...
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I'm sorry I didn't explain the situation better. The capital gain is a result of the disposition of a business within the partnership. The passive losses, inclu...
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Answers to your question:Partnership was not liquidated because one small business within it was still being operated.
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By the way, the partnership is more of a holding company for businesses, not property. The business that was sold made up the vast majority of the partnership b...
Activity Feed for Goodwins1
- Posted Re: K-1 passive losses not deducted from K-1 capital gain on Investors & landlords. November 20, 2020 7:42 AM
- Posted Re: K-1 passive losses not deducted from K-1 capital gain on Investors & landlords. November 20, 2020 6:56 AM
- Posted Re: K-1 passive losses not deducted from K-1 capital gain on Investors & landlords. November 19, 2020 8:11 PM
- Posted Re: K-1 passive losses not deducted from K-1 capital gain on Investors & landlords. November 19, 2020 7:17 PM
- Posted Re: K-1 passive losses not deducted from K-1 capital gain on Investors & landlords. November 19, 2020 7:14 PM
- Posted Re: K-1 passive losses not deducted from K-1 capital gain on Investors & landlords. November 19, 2020 7:12 PM
- Posted K-1 passive losses not deducted from K-1 capital gain on Investors & landlords. November 19, 2020 11:50 AM