Based on your follow-up responses:
- If you have your 2018 k-1, what box is checked in your capital account section?
- In section L of your k-1, is there anything on the other increase / decrease line? If so, what does the description say in the attachment? I’m checking to see if there is anything that says “final k-1 adjustment “ or similar language.
- If bullet 2 is a “no”, and your capital account has been maintained on a tax basis, then your facts are indicating no gain or loss upon disposition.
- Keep in mind, you are still freeing up your suspended losses, but those will be reflected elsewhere on your 1040.
- If no gain or loss on disposition, you will show $4,000 as proceeds on form 8949 and $4,000 as basis to net to zero.
- I’m a little bothered by the fact that you received a k-1 that indicates final yet you haven’t received all distributions. This is bothersome because if the actual $$ amount of the final distribution isn’t the $4,000, then your return will need to be amended.
*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.
