I lost tens of thousands as passive loss when I withdrew from a partnership. However I'm not sure whether the capital loss is deductible. Since I have no passive income I think I could deduct $3,000 against my ordinary income and carry over the rest. FreeTaxUSA does not allow the deduction. What's going on?

  • What exactly was lost? Your paid in capital? An unrecoverable loan? – quid Apr 10 '19 at 22:33
  • @quid I used money to invest in a partnership. Several years later I withdrew from it and got capital loss. – Kitty Apr 10 '19 at 22:40

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Browse other questions tagged or ask your own question.