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Get your taxes done using TurboTax
Let's take the questions one at a time.
- Do I put the first sales date and last sell date here (ie. 3/22/22 - 4/20/22)?? Or something different?
- You can use the latest sales date (4/20/2022). Since these are both short term sales the tax treatment will be the same for both regardless.
- Where can I find this info? (Sales price, expenses, basis, etc)
- You should have the partnership basis with your documents included with the K-1 (based on your information the cost basis should be relatively close to the selling price, but you should be able to use your actual purchase price plus purchased expenses, if any). For both sales this will be ordinary gain.
- You do show that your investment (capital contributed) is $907 which would be your cost before any expenses of purchase or sale.
- AMT would be the same.
- There is no 1250 gain in your situation (held more than one year).
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‎April 7, 2023
12:35 PM