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How does a partnership limit losses a K-1 it received from another partnership
How does a partnership limit losses on a K-1 it received from another partnership.
Partnership A has a 23% interest in Partnership X;
Partnership X gives Partnership A a K-1 for a loss, with a capital account reduction equivalent to the loss. The loss ought to be limited since the A's basis in X is essentially 0. How do I limit it in the software for 1065's.
