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- Are PTP capital losses and Section 1256 contract & straddle losses allowed in the current year?
Are PTP capital losses and Section 1256 contract & straddle losses allowed in the current year?
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GP
Level 2
03-27-2021
09:12 AM
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A client has a Sch K-1 from a PTP that is a commodity ETF. The K-1 shows a short-term capital loss and a Section 1256 contract and straddle loss. Do these losses flow to Sch D without being limited since capital losses are not passive? The client does have sufficient basis to allow the losses. I know that the capital losses will be limited to a $3,000 deduction in 2020.
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