- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
@PAGB There's actually not much (anything?) on the K-1 that's going to match your 8949 (Cap Gain/Losses). The partnership doesn't know what you sold for, so it doesn't list your sales price or try to calculate your Cap Gain/Loss. If it lists your purchase price, it might list your "Cost Basis". That would match the cost basis you use on 8949 IF you had not Ordinary Income (which is typically listed on the K-1 Sales Schedule).
And yes: Capital Contributed During the Year should match what you spent to buy into the partnership.
**Say "Thanks" by clicking the thumb icon in a post
**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!
March 25, 2022
7:51 PM