I'm currently working on a tax return for a client that has this same K-1 that everyone else has commented on.I just noticed that the "adjusted tax basis" on th...
Tom is correct regarding the allocation of basis (my bad)...although like many IRS rules, this doesn't make sense to me and re-figuring the basis is impractical...
In this instance, the entire amount of sales proceeds is taxable because if you read the explanation on the Brighthouse Financial 1099-B, the number of MetLife ...