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Get your taxes done using TurboTax
@des779 Your suspended losses will be released to Sched E, and these will largely offset the $60k. Also, when you adjust your cost basis, the Ord Income reduces any Cap Gain. Your cost basis is [purchase price]+[cumulative adjustments]+[ord income]
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎April 6, 2022
4:34 PM