conwaytaxes
Level 1

Need advice.  Client sold Energy Partners LP and I am trying to make the basis adjustment on form 8949.  Partner instructions say to report the column they label  "Gain Subject to Ordinary Income" as a negative adjustment on form 4797.  They claim instructions for form 4797 are unclear in the determination of capital gain where total gain on sale is partially ordinary gain so reporting this amount generally results in the correct capital gain or loss.

Any comments?  Is it safe for me to go ahead and make a negative adjustment in Column G of 4797?

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