- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
@nexchap can you please confirm if this looks correct? From K-1 "Cumulative Adjustments to Basis", it's -1,924. To cancel out the loss so that it's not double counting, in 1099-B, I entered a one-liner for an extra 1,924 gain to offset K-1 loss. Given that TT does not allow negative cost basis, I used proceeds 1,924 and cost basis 0.
Please confirm if this is correct. It is correct per my understanding so far.
May 20, 2021
6:40 AM