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veeral
New Member

I sold and equity which is reported on 1099-B and also received a Schedule K 1065, which one should i report? Schedule K shows gains whereas it was loss.

 
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1 Reply

I sold and equity which is reported on 1099-B and also received a Schedule K 1065, which one should i report? Schedule K shows gains whereas it was loss.

both the 1099-B and k-1.   

if the 1099-B reflects the sale of the partnership, then it's likely the basis reported on the 1099-B would need adjustment.

 

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