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- Individual's ESPP Long Term Capital Gain offset K-1 liquidating S-Corp Long Term Capital Loss
Individual's ESPP Long Term Capital Gain offset K-1 liquidating S-Corp Long Term Capital Loss
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ThinkingTooHard
Level 1
02-16-2021
12:46 PM
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I have shareholders of an S-Corp who want to dissolve the business. This would generate a K-1 liquidating long term capital gain(loss) [LTCG(L)] depending on individual basis.
Some of these shareholders have long term capital gains(losses) in an Employee Stock Purchase Plan (ESPP) 1099-B.
Would they be able to net the K-1 line 9a LTCG(L) against the ESPP 1099-B LTCG(L)? My understanding is yes since both amounts would flow onto Schedule D of their 1040.
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