Partner - Components of Suspended Loss Carryover Worksheet

Show expandable text


Product support for ToolBox CS ended on October 31, 2022.

Help & How-To Center content for ToolBox CS may be outdated and is used at your own risk.

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.

Was this article helpful?

Thank you for the feedback!