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?

[sjrcpa · Accepted solution]

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

[TaxMonkey]

Here is some supporting information for your file:

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