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One partner is taking a building as his distribution . With the final return of the partnership will he be able to deduct accumulated passive loss carryovers?

rgacpa
Level 1
 
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sjrcpa
Level 15

When and if he has passive income. Receiving the building is not a taxable disposition of the rental property.


ex-AllStar

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sjrcpa
Level 15

When and if he has passive income. Receiving the building is not a taxable disposition of the rental property.


ex-AllStar

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TaxMonkey
Level 8

Here is some supporting information for your file:


https://www.thetaxadviser.com/issues/2016/jun/liquidation-of-llc.html

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