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Hi nexchap, I have a question that I hope you can take some time to answer.
Seems like this year, "sales proceeds" has been changed to "sales price", there is also "selling expense". I enter both as 0.
Then there are "partnership basis", "ordinary gain" and "1250 gain" for both ordinary and ATM. How should I enter these 3 boxes if in my K-1, I have
"adjustments to basis" = -6
"ordinary gain" = 7
"alternative minimum tax basis adjustment" = 0
Thanks,
Seems like this year, "sales proceeds" has been changed to "sales price", there is also "selling expense". I enter both as 0.
Then there are "partnership basis", "ordinary gain" and "1250 gain" for both ordinary and ATM. How should I enter these 3 boxes if in my K-1, I have
"adjustments to basis" = -6
"ordinary gain" = 7
"alternative minimum tax basis adjustment" = 0
Thanks,
‎June 7, 2019
4:03 PM