Some clarification needed on some items:
- When you indicate a basis of $7,073 is that your tax basis?
- Is this based on your maintaining a tax basis schedule?
- Or was this indicated on your K-1?
- The basis figure you mention, is this adjusted for the current year loss of $4,481?
- Is your basis adjusted for the final current year K-1 items?
- Did you receive a liquidating distribution?
- Did you use TT in prior years?
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
