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@308Tom You're correct. In the past, K-1 providers didn't reflect this in their sales schedules, and it was incumbent on the filer to properly work through the mechanics. As of this year, it looks like at K-1s coming from TaxPackageSupport.com have introduced unified basis into their sales schedules. Hopefully, this is a sign that all of the K-1s coming out will do the same.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎February 27, 2021
9:15 AM