Pennico
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How long can you carry forward a partnership loss?
Hello I have started a partnership growing and then selling mature trees so there is only costs (loss) and no income for arund 10 years. Its a relatvely small enterprise so we are using cash basis accunting and so i cant offset the loss against income from other work. Can the annual losses be indefinately carried over (captured in the 'total loss to carry forward' - box 24 of teh partnership section), or is there a time limit? Thanks Harri