- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Thanks for the reply KarenM90 - To Answer...
There was $22,000 of total company Income for 2019. At 29% Ownership, I get roughly $6,300 of Income that belongs to me, as the sale of the company finalized at year end. There were no other losses/distributions/contributions in 2019.
I think the better question I could have asked is... In what way do all the years (2005 through 2018) affect my basis? After all, I know from K-1s, that my portion of the basis at the end of 2017 was -$50.1K, and at the end of 2018 was -$82.3K
Anyway, very confusing...
No matter what, thanks for the reply KarenM90
‎February 19, 2020
7:20 PM