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Business & farm
only the $2111 gets reported in the sale section of the K-1. do not report the 1099B here you will create issues for yourself
Schwab should have coded them as type B (short-term) or E (long-term) uncovered which simply means Scwab did not report the cost basis to the IRS
if the cumulative adjustment to basis is a positive 2010
then your tax basis for schedule D/8949 based on what you provided 6660 + 2010 +2111. If my math is correct that's 10181 so a sales price of 7730 produces a capital loss 2451
if the 2010 is negative tax basis is 6161 for a capital gain of 1569
March 19, 2025
6:21 PM
1,059 Views