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PTP Publicly Traded Partnership sale and repurchase
I have a client who owns a PTP - 9000 shares purchased in 2015.... 9000 more shares in early October 2017.... and then the original 9000 shares sold in late November of 2017. Do I have to continue to carry the passive losses that were unallowed until all shares sold, or can I take the carryforward losses in 2017, since all of the original shares were... -
Basis limits on Publicly traded Partnership K-1
Good morning and please excuse my long post - I have been a lurker for years, and hope that I am including all info up front to support my questions. So here's the situation - A client has a PTP with a negative ending capital account under the "tax basis" on Part L of schedule K-1, from 2011 - the first year the ending basis was below zero....
