DianeW777
Expert Alumni

Get your taxes done using TurboTax

Yes, we can help.  The cost basis according to your notes should be number 2 - $7,463.  The cost basis fluctuates each year depending on income or loss and some other details. It appears they  have provided you your current cost basis.

 

Ordinary income that would be subject to recapture is any portion of the gain that might have been attributable to depreciation or other asset where you had deductions.  The partnership should be able to provide details as to whether any of your gain would be part of recapture as ordinary income.  If you have none, then you would leave this box blank. You did enter the same sentence twice, however my answer would not change.

 

@andyvu2002 

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