TampaBayCPA
Level 1
01-17-2022
11:53 AM
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Thank you for the quick reply. Understood that there are differences in outside/inside, to be honest just was not sure of the treatment here for the gain/repayment.
So does the gain on repayment not come into play when computing debt basis? Only the portion (85) that Lacerte calculated would reduce debt basis and there will be a permanent difference between the balance sheet and outside basis for the 1,370 gain?