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K-1 loss limitation?

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    #1

    K-1 loss limitation?

    If a Partnership generates a loss and that loss is reflected in the taxpayers K-1, is the K-1 loss limited for the taxpayer? Example like the $25K non real estate professional limit for rental loss.
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    #2
    Az

    Your t/p can only take the loss up to the amount of his/her basis in the partnership. You or the t/p will have to track this to find out the deductible loss allowed.

    Dennis

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