LIBChristinaG
Level 2

Thank you for your response.

In 2016 their Basis was calculated at 25K by end of year. New preparer in 2017 did not incorporate 2016 end of year Basis into 2017 but applied income/expenses and the same preparer for 2018 only applied the losses from 2017 under M-2 (accumulated Adjustments) but no revenue/expenses, nothing on K1. BUT same preparer on 2018 1040 applied under Sch E non-passive loss from schedule K1 of a considerable amount

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