How to code final year of partnership

Forum|Forum|4 years ago
April 12, 2022
2 replies
10 views

final year of limited partnership where do I code it

ProConnect Tax

This topic has been closed for replies.

IRonMaN

Level 15

Code what?

Slava Ukraini!

itonewbie

Level 15

Under General > Miscellaneous Information, on the Miscellaneous tab, under the Final Return section, check the box for Final return.

If you have problem finding what you need, you can also use the handy free text search box on the left. It's quite accurate for the most part. Give that a try.

---------------------------------------------------------------------------------Still an AllStar

M

mstsaxAuthor

Level 3

Thanks but I wanted to know how to code a final Limited Partnership to force the loss carryovers to use.

itonewbie

Level 15

It helps to be explicit about what you need.

If you are referring to the partner's individual return and those are suspended passive losses, go to Income > Passthrough K-1's > Partnership Info (1065 K-1). On the tab of the partnership in question, under Part I - Information About the Partnership, scroll down to the line Delete next year (final K-1, free prior unallowed passive losses) and check the box.

---------------------------------------------------------------------------------Still an AllStar

Sign up

Login with SSO

Let's get you signed in

Login with SSO