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Investors & landlords
My bank/brokerage produced a 1099-B showing this transaction with an unknown or unsubstantiated basis that generated a small gain. If I follow your statement, the basis should actually be the sale price (to produce no immediate tax impact) and the basis for the TC Energy (in the bank/brokerage file) should be updated based on the TT calculations for the PTP.
March 27, 2022
8:23 PM