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Best Answer Click here
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The more I know the more I don’t know.
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The more I know the more I don’t know.
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I have used this type of offset before but it was not in a partnership and I do not know what box to check to spring the loss in this situation. RWWCPA
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Income from partnerships goes on Sch E page 2.
The more I know the more I don’t know.
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you're doing a k-1 input? there's a box for Final: with 3 choices. that should open the suspended losses
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How did you finally solve the problem? I have the same issue. Two rental properties in partnership reported on K-1 were sold. There is one other activity in the Partnership. I know how much suspended rental loss to release for each, just don't know how to release it.
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Did you find a solution to your problem? I have a similar situation, three rentals reported in a partnership, two each have their own 8825 worksheet, one is a K-1 from another partnership. The two rentals each reported on their own 8825s have been sold. I need to release losses for the two rentals on the 1040. Tried to call tech support, but they can only advise technical matters. This is one of those things where you need to understand the concept and the tax law.
Thanks for any help you can offer.