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Limited partnership loss deduction calculator

About this calculator

Use this calculator to work out your “partner’s basis”, the deduction amount of a loss from a limited partnership you may claim in the current income year, and how much of that loss must be carried forward to the following income year.

Use of this tool does not result in data being submitted to us.

When to use this calculator

When you are allocated a loss from a limited partnership and you are a:

  • limited partner of the limited partnership
  • general partner of the limited partnership who:
    • was a limited partner of the limited partnership within 60 days of the last day of the income year, and
    • is or will be a limited partner of the limited partnership within 60 days after the last day of the income year.

Based on the partner’s basis the calculator will work out how much of the limited partnership loss:

  • can be deducted in the current income year, or
  • must be carried forward to the following income year.
What you will need

Details of:

  • the amount of loss allocated from the limited partnership
  • capital contributions you have made to the limited partnership, or that have been assigned to you
  • distributions made to you by the limited partnership
  • your income from the limited partnership in the income year and previous income years
  • your expenditure and/or losses from the limited partnership in the income year and previous income years
  • investments you have made in the limited partnership within 60 days of the last day of the income year which will be distributed or reduced within 60 days after the last day of the income year.
After you finish

The result will generate a printable schedule of your partner’s basis, the loss you can claim in your income tax return and/or the loss that must be carried forward. You should keep a copy of this schedule with your records.

Inland Revenue’s website does not store any of the data you enter.

No information you provide while using the calculator is recorded, saved or in any way referenced by Inland Revenue. The calculator is stored on a secure part of our website to prevent unauthorised interception. If you are unable to access the calculator, you may need to update your browser and/or firewall settings.