Follow-up comments to your questions:
- While I haven't read the methodology you are referring to, the goal is to:
- Avoid any matching notice
- Arrive at the correct end result
- I prefer my method as the gain / loss is being reported (determined) in the K-1 area for the activity that is being disposed. Most 1099-B's report an incorrect basis and that is why I just net this out to avoid any potential matching notice. And in most cases the basis is not reported to the IRS.
- You should adjust your AMT basis in the gain or loss section. There appears to be a $2 rounding issue as the form K-1 reports $372 and the detail schedule only reports $370.
- I would use the $372 that is reported on the K-1
- This figure is a positive figure, so you would increase your AMT basis by the $372
- Your AMT basis should be $57,178
- Don't get hung up on the fact that in one place it is positive and negative in another. This is the result of presentation. The $370 is report as a negative as if you read the comments, this is the amount that you need to "adjust" your total gain or loss.....not the basis. Both have the same impact.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
