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Level 2
07-24-2020
01:30 PM
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On Schedule K-1 for year 2019, there is a new section, Box N - Partner's Share of Net Unrecognized Section 704(c) Gain or (Loss). The beginning balance is $100,000. The ending balance is $400,000. Where do we enter this information in Lacerte?
Is this just for informational purposes?
Does this information need to be reported anywhere on the 1040?
Is this taxable?
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