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Level 1
posted Mar 31, 2021 4:36:18 PM

Form 8949 and Form 1065

I have investment transactions from my broker reported on Form 8949. I have other investment activity reported in Form 1065 (K-1). The problem I have is that I have received a Form 1065 for transactions that occurred in my brokerage account. I therefore have gains/losses in the 8949 that seem to be duplicated when I enter my 1065. It is a sizeable amount and the line items appear on both forms. The information on in Part II Line L "Current Year Net Income" is entered in one part of my return and my 8949 appears to also have the information included.

Any help or thoughts?

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1 Replies
Expert Alumni
Mar 31, 2021 6:06:15 PM

@Carthay Click this link for discussion on Duplicate Entries for 1099-B and K-1.

 

You can delete the entries from your 1099-B that are duplicated on your K-1.