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Investors & landlords
I too would rather see a $0 gain/loss reported. However, they may be thinking the that 8948 instructions required reporting "gain" or "loss" and if it is zero there is no gain and there is no loss. That is a possible interpretation. See page 2 of https://www.irs.gov/pub/irs-prior/i8949--2019.pdf "Report short-term gains and losses on Part I. Report long-term gains and losses on Part II." ...
on the other hand it goes on and says "Enter all sales and exchanges of capital assets, including stocks, bonds, and real estate (if not reported on line 1a or 8a of Schedule D or on Form 4684, 4797, 6252, 6781, or 8824). "
All sales not just gains. Oh, doesn't the K-1 gain show up on 4797? That could explain it.
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‎June 1, 2020
5:05 PM