Thank you for the reply and information.
So if i don't have any ordinary gain, what should I enter as part of the "Enter Sale Information" page?
Same price: ?
Selling expense: ?
Partnership Basis: ?
Ordinary gain: ?
1250 gain: ?
Just as context I did receive a 1099-B for the merger with box E (basis not reported to IRS)
The merger gave me cash and shares from two differents new entities. I got a final k-1 from my original shares, and those paid me out a fixed price per share + some shares from two different news companies. One of those companies generated another k-1 which has zero everywhere cause I sold them right away (a few days later). The contributed capital is also equal to the withdrawal (450$ for both). I also didn't get a sales schedule for this one (does that means there is nothing to report?).
The rest of the merger was paid out in cash in my brooker account. The other company shares didn't produce a k-1 but the basis is still not reported to the IRS (I'm guessing because the basis is still related to my original partnership shares).
My original k-1 has the following for the selling schedule:
Unit sold: 275 units
Sale proceeds: "empty" (should it be the total of all my new shares + cash from the merger on my 1099-B?)
Purchase price: "empty" (should it be my initial purches cost?)
Cumulative adj to basis: -37
Cody basis: "empty"
Percentage long term: 100%
With the numbers above, what should I enter in the k1 interview and how should I change the basis on my 1099-B transactions?
Thank you for your time
