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Level 2
posted Feb 24, 2020 3:25:30 PM

Form K-1 Item M (Attaching Statement)

On Form K-1 for Item M, the IRS instructions state...

 

"If you have contributed property with a built-in gain or loss during the tax year, the partnership will check the “Yes” box. Also, the partnership will attach a statement showing the property contributed, the date of the contribution, and the amount of any built-in gain or loss. "

 

Is there a specific format for the statement? Or do I just make an excel sheet showing the information they're requesting, and attach it as a PDF to my return?

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1 Replies
Level 15
Feb 24, 2020 4:24:26 PM

The procedure you delineated should work fine.