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Get your taxes done using TurboTax
@GoodShip On the Ord Gain, you don't have a lot of options. I agree with your starting assumption that there ought to be something. I assume you've carefully checked all the line 20 items to see if its there somewhere, as well as carefully reading all the verbiage that came with the K-1 to see if its mentioned. But given that the K-1 isn't reporting anything, and there's no reliable way for you to calculate it yourself, choices are: 1) see if you can track down the K-1 preparer to ask 2) if there's still a Corp entity, see if they have any insight 3) if the amounts are sizeable enough, consider getting a CPA to review / bless a decision to go with a $0 this time.
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**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!
‎September 30, 2023
9:49 AM
526 Views