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Business & farm
@DaveT3 There's no need to split the Cap Gains / Basis Adjustments, since that all happens on the 1099-B. So the only thing that you have to account for on USAC and SUN is the Ordinary Gain. That should be split out for you in the K-1 (line 20AB maybe?). But if its not, it won't impact anything: you still report that each sub-K1 is a complete disposition, through a sale, and proceed as normal.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
March 18, 2023
1:43 PM