TaxGuyBill
Level 15
03-31-2021
05:01 PM
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Hmmm, I think my original thought process was messed up (I may have been thinking thinking a loss in Box 1). I shouldn't be answering questions when I'm tired. 🙂
It had $90.1 of INCOME, so that should stay on the K-1. You still need to report the full amount of income.
But then you have $64 in Basis left. That $64 would would be PYA, and the rest carried over.
Does sound more logical? 😁