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Business & farm
thanks, appreciate that!
Since you seem to know these things, might you be able to assist with what numbers should go in a couple of other boxes on the TT form filler. Is "Partnership Basis" the same as "cost basis" on the K-1? And is "Ordinary Gain" the same as "Gain subject to recapture as ordinary income" on the K-1? I don't know why TT doesn't use the same terms as the K-1. VERY confusing (as is double counting of a sale since the the sale is already on a 1099-B).
March 25, 2022
11:44 AM