Skip to main content
Level 1
December 7, 2019
Solved

One partner is taking a building as his distribution . With the final return of the partnership will he be able to deduct accumulated passive loss carryovers?

  • December 7, 2019
  • 2 replies
  • 17 views
No text available
This topic has been closed for replies.
Best answer by sjrcpa

When and if he has passive income. Receiving the building is not a taxable disposition of the rental property.

2 replies

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

When and if he has passive income. Receiving the building is not a taxable disposition of the rental property.

The more I know the more I don’t know.
Level 7
December 7, 2019

Here is some supporting information for your file:


https://www.thetaxadviser.com/issues/2016/jun/liquidation-of-llc.html