Anonymous
Not applicable

Investors & landlords

the broker 1099B does not adjust your original cost for partnership activity.  the partnership provided you with a supplemental schedule that shows your tax basis and if any part of sale that is ordinary gain under section 751.

 

 

so on form 8949 show sales proceeds as $17945. basis as $11282+ $5516 which is the ordinary gain resulting in a capital gain of $1147

on the disposition part of the k-1 worksheet you will show purchase and sales dates based on the 1099B. you will show sale price of $5516 on line 5 and ordinary income of $5516 on line 9

 

also make sure you check off this is a final k-1 so any passive suspended and current losses are allowed.