Hi Diane,
Should I rely on the capital account number in the K-1 which sent from partnership? Sorry I was asking because the partnership "forced" all members to accept lower cash consideration in 2018, in this case is $45000, and my original investment is $50,000, I didn't expect to get other settlement in 2018. That also why the class members win in the court and received settlement in 2021.
I mean the capital account number/cost basis in K-1 might be false, should I calculate one my own or ask my CPA help to do that?
Thank you very much.
