Skippers22
Level 1
03-29-2024
03:38 PM
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I have the same 751 reporting problem relating to full disposition of a PTP and can't make the 751 gain roll forward to Form 8995-A for 199A purposes. My broker reported the proceeds (but not the basis) on 1099-B Box E and I'm uncertain what to enter on lines 5 to 9 of Part II of the K1 additional info sheet.
To make it even more complicated, I have SSTB consulting income subject to the phase-in whereas the 751 gain should not be phased-in. Any thoughts as 1) how to get the 751 on the 8995-A but 2) without the phase-in? Thanks.