Thanks, everyone, for the sympathies, and for the help. I appreciate it.
@Anonymous_ @Rick19744 Honestly, I don’t really know the actual basis. Dad never kept track of it, and I don’t think he bothered with suspended losses or carryforwards, either. I think he just got talked into this investment by some guy he knew at work once upon a time. It was a group of Pizza Hut restaurants.
I do have a negative number in the "partner’s capital account analysis" section of the K-1 that I assume is probably more or less the basis. I was hoping I could ignore that and report it as the market value at the date of death, with the capital gain on the sale being the difference.
I understand the reasoning for having two K-1s issued, but the second one would only be for about two months. For what it's worth, the sale also was recorded on his 1099 from Wells Fargo (where the units were held) as a non-covered sale with "N/A" listed in the cost basis and gain/loss columns. This 1099 was issued under his personal SSN in the name of his grantor trust, with him as the deceased trustee. I just don’t want any confusion to arise from reporting the sale differently on a new K-1.
Thanks again.
