Partner - Components of Suspended Loss Carryover Worksheet

Alerts and notices
Leave feedback

Internal Employees: Submit feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.


Characters left:

This tax worksheet tracks the character of loss carryovers partners may have because of basis limitations.

When losses are suspended and carried forward, they retain their character and are treated as incurred in the following year. When the suspended loss for a tax year is less than the total loss incurred for that year (i.e. part of the loss was allowed and the loss consists of various items of loss and deduction), the partnership rules state that the suspended amounts should be allocated pro rata among the various items that make up the total loss.

Note: See IRC Section 704(d), Reg. 1.704(d)(1), and Reg. 1.704(d)(4) for partnership losses.

Share This