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PAL for new 1065 return

Deb62
Level 1

I have a new client partnership return. It has prior year loss carryover from the previous year for his rental property.  Where do I enter the carryover? 

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3 Comments 3
sjrcpa
Level 15

What kind of loss carryover?

 


The more I know the more I don’t know.
Deb62
Level 1

It is a PAL carryover from his prior year rental losses. 

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sjrcpa
Level 15

There's no PAL carryover on a 1065. The losses pass through.

Limitations and carryovers are computed on the partner's returns.


The more I know the more I don’t know.