Taxmaster
Level 2
05-10-2021
09:06 AM
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But how is the beneficiary supposed to report that on their return? The instructions for the K-1 say that the number on line 4a which is the "net long term capital gain" is to be reported on Schedule D. It says nothing about deducting from that number the amount on 4c which is the "Unrecaptured Section 1250 gain".