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Partnership input screen shows there are Basis Carryover losses but tax return does not reflect these losses. Do these losses require manual input on Sch D?

llhytrek
Level 1
Final return=yes
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sjrcpa
Level 15

No. They are lost. No basis = no loss can be claimed.

One wonders why this didn't zero out on a final return. Chances are client was allocated too much loss in prior years.


ex-AllStar

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sjrcpa
Level 15

No. They are lost. No basis = no loss can be claimed.

One wonders why this didn't zero out on a final return. Chances are client was allocated too much loss in prior years.


ex-AllStar

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