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Get your taxes done using TurboTax
Did you actually sell any of the shares in the dissolved fund? Checking the "Disposed of a portion of ..." box (Screen shot 1) is what is triggering Screen shots 3, 4, and 5. And if you did sell a some of those shares, you should have a Sales Schedule that helps answer those screens.
If you didn't actually sell -- if your first fund was simply absorbed by another partnership -- then uncheck the "Disposed box". The partnership did end. Screen shot 2 is fine. And Screen shots 3, 4, and 5 will go away.
Note, though, that if you have any suspended losses from your first partnership, they'll stay suspended. You'll want to keep track of them and make sure they get moved over to the new, merged K-1 when you're entering that.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎April 20, 2021
5:51 PM