Thanks very much, @nexchap I appreciate it. I understand. It only allows the loss (and there was plenty of that) to the extent of the gain, which is why the loss equals the gain.
Lastly, in regard to the 1099B basis adjustment for the partial sale. There are several ways to adjust this. One is simply going to the 1099B in the interview and manually adjusting the basis. This is what I did because it was coded as "basis not reported to the IRS." Another is going to Forms and using what you call line 7b to adjust. Another is to use the interview in TT and check the box that says the basis is incorrect, and put the correct basis. TT will code this I believe as "O" for other adjustment, or something like that.
Assuming that the broker reported the basis on the 1099B as "not reported to the IRS," isn't the easiest way to go into the interview and the specific 1099B item and manually change the basis to the correct basis per the calculations from the K-1 and sales schedule review? Is there anything wrong with doing it this way?
Thank you very much!
