After reviewing the K-1, something just seems odd in the presentation, but attempting to analyze this in a forum such as this is difficult.
The only change after seeing the K-1, would be a few reductions to your basis:
- $106,557 - 1,083-808-1-5 = $104,660
- Overall gain is then $58,748; Ordinary $46,030 and 1250 is the 10,822
- Nothing else changes.
However, after reviewing and thinking about this, I am not sure what the ordinary amount of $2,578 and capital gain amount of $8,190 represent. I was expecting to see these amounts on the K-1 as well, but they aren't there.
So that could reduce your basis to $93,892
*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.
