I bought pre-ipo shares of a xyz company in 2021 via equityzen. this xyz company shut it doors in 2022 and resulted in total loss of equity. equityzen issued k-1 for this in 2023.
Here's what I did so far,
Sale Price | |||||
Selling Expense | |||||
Partnership Basis Learn More | Partnership Basis | ||||
Ordinary Gain Learn More | Ordinary Gain | ||||
1250 Gain Learn More | 1250 Gain |
Please help..
In a sale of an investment you pay taxes on the profit you make on the sale. So, in order to figure out what the profit is, you need to enter the sale price (the amount that you sold it for) and the basis (the amount that you paid for it). You also need to enter any expenses that you had (selling fees etc.).
The system will then figure out the gain (profit). It is also asking for the AMT amount which is probably the same as the regular amount in your case. The section 1250 gain is a gain from the sale of real estate and rental property. So if the partnership had any of that then enter that there as well.