I have loss carryforward from prior years that I need to show on form 8285, lines 3b & 3c. This is coming from a partnership K1 that no longer exists, only the loss carryforwards remain. HELP!
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If the partnership terminated or was sold, most, most likely those losses should have been used in the termination year,
No the loss was not used. Still working with Lacerte to figure it out, been through 3 different support people so far...... Very frustrating!
"...No the loss was not used. "
You are missing Susan's point that if the partnership was final in the prior year, the losses *should* have been used then.
I wasn't clear, the partnership interest sold at a loss
Sold in the prior year? Then THAT year is when the suspended losses should have been taken.
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