- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
He didn't add capital of $50k for that current year, he earned it via the sale of the property, so the gain is $50k as I understand it. He has no more interest ($0) at end of year since the deal is done and closed (final K1 I presume?). That doesn't mean he had no gain or loss, it just means he has no more tax basis going forward for future years I believe.
‎June 6, 2019
10:15 AM