G-day
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Perfect, fully understood; unusual situation and will recommend this response to others, thank you.
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No suspended losses. Only a tax basis in converted partnership interest. I'm considering simply not reporting this as a final K1 in TT.
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I am a partner in the LLC. This is a fairly large partnership and the tax basis is maintained. The issue is that we Converted to a C Corp January 1 2019, howeve...
Activity Feed for G-day
- Posted Perfect, fully understood; unusual situation and will rec... on Business & farm. June 4, 2019 1:33 PM
- Posted No suspended losses. Only a tax basis in converted partne... on Business & farm. June 4, 2019 1:33 PM
- Posted I am a partner in the LLC. This is a fairly large partner... on Business & farm. June 4, 2019 1:33 PM
- Posted How is conversion of K1 Partnership to C Corp reported? on Business & farm. June 4, 2019 1:33 PM