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Get your taxes done using TurboTax
I agree with @tagteam .
Each of the lines noted request detail on capital gains or losses which should be a net figure; and each respective line states "net".
The K-1 is prepared correctly as those figures will be reported separately for purposes of determining your taxable income.
The form 7203 is determining your net basis which has a different purpose.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎August 24, 2022
5:51 AM
331 Views