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tomhines
New Member

How Do I report an abandonment of a partnership interest for 2016 on turbo tax. It is recognized as an ordinary loss as I have met the two required tests. Please help?

How do I enter the abandoment of a partnership interest properly in turbo tax so I get the ordinary loss deduction. Please guide me through the proper screens.

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5 Replies

How Do I report an abandonment of a partnership interest for 2016 on turbo tax. It is recognized as an ordinary loss as I have met the two required tests. Please help?

tomhines
New Member

How Do I report an abandonment of a partnership interest for 2016 on turbo tax. It is recognized as an ordinary loss as I have met the two required tests. Please help?

Thank you but that did not answer my question as I did affirmatively abandon my partnership interest.
tomhines
New Member

How Do I report an abandonment of a partnership interest for 2016 on turbo tax. It is recognized as an ordinary loss as I have met the two required tests. Please help?

I have met the requirements of Revenue Ruling 93-80 to recognize this as an ordinary loss but I have spent hours on trying to figure out how to enter it into turbotax.

How Do I report an abandonment of a partnership interest for 2016 on turbo tax. It is recognized as an ordinary loss as I have met the two required tests. Please help?

Tom - did you ever get the answer on this - I have same issue. my direct email is <a rel="nofollow" target="_blank" href="mailto:michaelbhorton58@gmail.com">michaelbhorton58@gmail.com</a>
Hof
Returning Member

How Do I report an abandonment of a partnership interest for 2016 on turbo tax. It is recognized as an ordinary loss as I have met the two required tests. Please help?

Not a single response addresses the question.  I have a loss on the abandonment of a partnership and need to report this on my 2019 tax return.  

 

Do not lecture me on whether I can take this.  It is a loss under section 165(a).  Yes I have read Rev Rule 93-80.  It is a loss.

 

Now, and more importantly, how the heck do I get it into TurboTax?

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