T
Todd
I'm looking at a K-1 (form 1065) for a passive partner of a
real estate venture. The partners capital account is
negative $35,000 at the beginning of the period. The amount
in box 2, Net Real Estate Income (Loss) is negative $15,000,
bringing ending net capital to negative $50,000. Is the
taxpayer allowed the loss on her current 1040?
Thanks in advance.
--
Todd
(e-mail address removed)
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real estate venture. The partners capital account is
negative $35,000 at the beginning of the period. The amount
in box 2, Net Real Estate Income (Loss) is negative $15,000,
bringing ending net capital to negative $50,000. Is the
taxpayer allowed the loss on her current 1040?
Thanks in advance.
--
Todd
(e-mail address removed)
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>