- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Yes, I bought and sold 3 Proshares ETFs, which are transactions/trades listed on the 1099-B (already entered into TT). There were 3 separate trades (3 different ETFs), so Proshares sent me 3 K-1 1065's, one for each ETF. None of these are significant amounts, but I obviously don't want to get double taxed on any gains or get credit for a loss twice. And, I don't understand why the same transaction would need to be entered into two different locations of the tax return. I went ahead and entered details provided on the K1's, leaving the cost basis and sales fields blank, as none of that matched any of the fields on the K1's anyway, plus all of the cost basis and gains/losses are already in the 1099-B. None of the K1 entries changed the TT refund/due amounts, so it appears to have just been information only. I'm still not sure if the K1's even need to be entered, but since they sent them to me, I entered what I could, and it was time consuming and a PITA.