- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
if you received a K-1 that reported the property sale, why are you separately reporting in on schedule D/8949.
you would not have receives a 1099-B for the sale since it wasn't you selling. however, if you sold the partnership/S-corp interest that's a separate reportable event but to correctly report it you need to know your tax basis which might not be properly reflected on the 1099-B. i can give you almost an absolute guarantee that if you sold your interest in a PTP (marked on the k-1 1065), the 1099-B does not reflect the correct tax basis. you should have gotten a supplemental schedule with the K-1 to calculate your tax basis
‎November 16, 2022
1:46 PM
355 Views