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How do I populate Form 8582 Ln 3b & 3c.

ljhyer
Level 3

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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5 Comments 5
sjrcpa
Level 15

If the partnership terminated or was sold, most, most likely those losses should have been used in the termination year,

The more I know, the more I don't know.
ljhyer
Level 3

No the loss was not used.  Still working with Lacerte to figure it out, been through 3 different support people so far......  Very frustrating!

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abctax55
Level 15

"...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.

HumanKind... Be Both
ljhyer
Level 3

I wasn't clear, the partnership interest sold at a loss

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abctax55
Level 15

Sold in the prior year?  Then THAT year is when the suspended losses should have been taken.

HumanKind... Be Both