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New Member
posted Jun 6, 2019 1:36:10 AM

1. How to adjust 1099 reported basis in sale of Publicly Traded Partnership to reflect K1 Cumulative Adjustments. 2. Where/how to enter its Oridinary Gain?

The basis reported in 1099B is cost. But payments received from a Publicly Traded Partnership are treated as reductions to its basis when sold. 

How/where are these Cumulative Adjustments entered in T-Tax to reflect reduction of Cost Basis?

And how/where is an Ordinary Gain reported?

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Level 9
Jun 6, 2019 1:36:11 AM