Conversion of PTP to C Corp.

[JayH]

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?

[PhoebeRoberts · Accepted solution]

You make a note in your file to delete it next year. There's no way to do what you want to do.

[JayH]

Thanks, Phoebe.

And for helping so many others throughout the years.

Jay Harris