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cpahdr
Level 3
yesterday
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I have a client who is going to receive a final K-1 with an ending capital account of 100K, The corresponding asset is worhless.
Should I show the partnership dissolution on schedule D as wothless and take a long term capital loss?
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TaxGuyBill
Level 15
yesterday
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What happened to the asset? Does the Partnership still own it? Was it thrown away? Was it distributed to the Partners? Something else?
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