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How do you report the basis of a partnership interest when the gain on the sale is reported on a 1065 K-1 box 9a? should the K-1 report the gain (loss) net of any basis?

raul
Level 1
 
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sjrcpa
Level 15

Box 9a is gain on a sale incurred by the partnership. It is not gain on a partner's sale of his partnership interest.


Ex-AllStar

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2 Comments 2
sjrcpa
Level 15

Box 9a is gain on a sale incurred by the partnership. It is not gain on a partner's sale of his partnership interest.


Ex-AllStar
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TaxMonkey
Level 8

I recently encountered a CPA who thought that the partnership redemption should be reported in 9a, after an unproductive phone call with him, is sent him his K-1s back with copies of the Forms 8082 I filed with my clients tax returns.

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