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Business & farm
your total gain is
4690 - (3939-1652)=2403 sales price less (purchase price reduced by adjustments to basis)
that's broken into two parts capital and ordinary
capital is 585 + ordinary is 1818 sum 2403 which magically is your total gain on sale
adjustments to basis are the sum/net of the following:
items of income - increases basis
items of losses and expenses - decreases basis
distributions - decrease basis
you could go through every k-1 over the years to see if the 1652 matches up but be wary certain lines on the k-1 don't affect basis because they are subcategories of other lines
‎October 14, 2023
10:43 AM