Investors & landlords

199A/QBI has nothing to do with your basis. section K on the k-1 is supposed to be on the tax basis so it would seem your tax basis prior to the 2025 distribution is $4732 for regular tax purposes.

 

 

over the years the AMT adjustment washes out. positive means that for income tax purposes you had less ordinary loss or more ordinary income over the 3 years - however the offset is more 1231 loss if positive or less 1231 loss if negative over those sane 3 years. so between the ordinary and 1231 over the years there is no effect on tax basis

 

for 20z enter the loss. Turbotax doesn't use it directly. merely to ask later on for the info about loss, wages and basis of assets    

 

 

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