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Investors & landlords
Yes I did see some of your other answers regarding Section 751 gain. I do have that. Frustrating that the IRS' own forms are saying something else. I ended up following your solution, though I am doing so blindly.
You say the basis is from the sales schedule. You mean column 6 "cost basis", right?
What I did was I followed your answer from above, then I input the 1099-B sale as it shows verbatim from the form provided to me, then I subtracted out from the basis (aka I adjusted the basis downward) by column 5 "Cumulative Adjustments to Basis".
‎October 14, 2024
10:01 AM