I am posting this as a separate thread because it is different the another question I have seen asked. I received a Georgia Final Schedule K-1. What gets reported as income or gains because there is no total amount applicable to the state line on the form? The amount listed I understand is my share of the entire partnership 1231 gains in addition to the income losses, but I do have basis even at the end of the partnership. My final distribution amount is not listed. Can anyone enlighten me how to handle what values I would enter? It seems odd not to be able to deduct my basis. My only other thought is to divide my Georgia gains by my total distribution to get a percentage, and then multiple my overall final partnership gain by the percentage as the amount to report.
