Taxpayer's PTP converted, tax free to a C Corp. My understanding is the suspended losses are added to the C Corp stock basis, so how do I mark the K-1 as final without the suspended losses being used currently?
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You make a note in your file to delete it next year. There's no way to do what you want to do.
You make a note in your file to delete it next year. There's no way to do what you want to do.
Thanks, Phoebe.
And for helping so many others throughout the years.
Jay Harris
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