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Hi Macuser,
I would like to set new numbers for my case to make sure my understanding is correct.
I invested cash $50,000 in partnership, along with that it also cost me $3,000 syndication fee, and lawyer fee, agency fee etc total $8,000. It's in year 2010, and the cash I paid totally for this investment is $50,000+$3,000+$8,000=$61,000.
In 2018, the partnership said there will be a merger event and ask me to agree to get $45,000 cash consideration for all the interests I had in the partnership. And no loss were reported in 2018 tax return.
In 2021, Court judgment the "merger event" in 2018 is not reasonable and paid me settlement $8,000.
So my question:
What numbers should I compare to calculate the capital gain or loss? The total cash paid in 2011 is $61,000, the cash I received in 2018 and 2021 is $53,000. In this way, there is no capital gain I should report, right?
Thank you very much.