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Suspended and current losses

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    #1

    Suspended and current losses

    General partner had a suspended K-1 loss in 2009 ($20K) and guaranteed payments of $60K. In 2010, she contributed $100K to the partnership, g/p of $60K and a current $15K loss. At-Risk is showing both, but I’d like to know if the combined total losses of $35K from both years will now lower 2010 SE income or just the current $15K?

    Thank you.

    D
    Tags: None
    #2
    Both?

    I'm thinking suspended losses released up to her new basis. But, I slept four hours last night and am in the middle of a trust fund plus personal with lots of those oil & gas K-1s with multiple activities on each, so my brain is fried.

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      #3
      Agree with you, I think both should lower 2010 SE income.

      What is sleep?

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        #4
        Sleep?

        I have no practical experience with that concept. I hope to research it after a week of tax classes in November.

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