TURBOTAX - Suspended losses on disposition of entire interest in partnership - TURBOTAX - InvestorVillage


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Msg  481 of 482  at  6/30/2021 2:20:33 PM  by

alburk


Suspended losses on disposition of entire interest in partnership

Facts: 
MLP purchased in prior tax year
Suspended losses from prior tax year K-1
Sold "entire interest" mid year current year
 
The sale of an "entire interest" should trigger the deduction of suspended passive losses.
 
Question: 
If a new position is taken in the same MLP at the end of the year, does that affect the treatment of the mid year disposition of the "entire interest" and cause it to be treated as the disposition of a "partial interest" (suspended passive losses remain suspended and attach to the shares purchased at the end of the year).
 
It would seem that the earlier sale would be treated as the disposition of the "entire interest" and the subsequent purchase would not impact that tax treatment.  
 
Anyone know? 
 


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Msg # Subject Author Recs Date Posted
482 Re: Suspended losses on disposition of entire interest in partnership camroc 1 7/2/2021 9:12:45 AM


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