Got a FINAL 1065 K-1 with a loss in Box 1. Box L with ending capital account of zero. Software has "Basis Losses" to carryover to 2020. Where can I tell the software to not do that? I can't find a place.
Ahhh... but they don't really have a loss in excess of basis. The loss and a cash distribution took the basis to zero, but not below. As to the carryover to 2020 and simply deleting it, that's pretty much what I figured.