@KXopherS wrote:
Wonderful, thank you!
You are most welcome.
However, in anticipation of the next issue, you will need to know your basis in the LP, the sales price and any expenses, and also Section 1250 gain or ordinary gain (if any). You may have to contact the accountant you used to prepare prior tax returns for this information; no one on this board can provide you with that information.
As a final thought, and in my opinion, part of the problem with these investment vehicles is that they are extremely complex in terms of tax reporting, particularly when they either wind down or are sold. Personally, I try to avoid investing in anything that is going to get me a K-1 for that precise reason.
