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ABANDONMENT OF A PARTNERSHIP INTEREST

mohan
Level 2

Hello, I would like to know where to show "abandoned partnership interest loss". I saw bunch of case references, but I would like to know what form I might use to report on 1040.

If anyone knows please let me know.

 

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Just-Lisa-Now-
Level 15
Level 15

The K-1 would be marked Final then a second K-1 page opens up for you to input disposal information.  Abandonment is one of the choices.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
mohan
Level 2

That's on 1065 Tax return. I would like to know where to claim "abandoned partnership loss" on 1040.

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Just-Lisa-Now-
Level 15
Level 15
that's for the K-1 (use the K-1 worksheet) that's entered on the 1040.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪