- You're right, this is very complicated! We were not aware that we should be updating the tax basis each year. My husband's aunt died in 2002. We have the K-1 forms from 2010 to present, but he's not sure if he has the earlier ones.
- TT is reporting the sale of the property on form 4797 (Part I). In box 2a it enters 'From K-1' in box 2a and in box 2g it enters the value from K-1 box 9. The other boxes on line 2 are blank. Even if I enter a value for stock basis on form 7203 it doesn't seem to have any affect.
- We only received the K-1 form and did not receive a 1099-DIV.
Thank you for your response!
