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Investors & landlords
@dlaccounts60 Assuming you used the K-1 interview to enter the sale, and TT then created its own 1099-B (code C or F, for cost and proceeds not reported to the IRS) with the correct Cap Gain/Loss, then 'Yes' -- its fine to set the cost=proceeds on the broker supplied 1099-B. You only want that reported once.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎April 5, 2021
11:16 AM