joshuabarksatlcs
Level 10

My wild guess is that it had to do with the debt basis in you input.

Assuming:

1.  NO difference between the AAA and the equity account info; and

2.  The debt balance was AFTER the repayment of $1,455;

the ending debt basis should be $2,052. 

Your problem could be in the input in Lacerte of the beginning or ending debt basis or both.  It could also be that in the interim years, there was zero debt basis at one point.  When the debt was repaid, the zero basis triggered the gain.  With the gain, the basis (deduction below zero basis) was restored.  Somewhere along that line.  But then, without seeing the details, I could just be barking up the wrong tree.

I would start by checking the debt basis info.  Hope this helps.  

 


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