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Business & farm
1099 B says they are not reporting the cost basis to IRS (Box B checked) although it shows a cost basis
My K-1 form initial cost basis is same as 1099 B but the final cost basis is different (lower) from 1099 B due to an adjustment made by them.
So if I understood your response, I should use my K-1 information including the final cost basis to report the transaction and delete 1099 B transaction.
Let me know if this is correct?
March 16, 2021
11:18 AM