kris7404
Level 1

My client brought me a final Partnership K-1 which shows a beginning capital account of ($53,470), Current year net income (loss) of (31,377) and Other increase (a negative withdrawal of capital) of 84,847 which totals an Ending Capital Account of 0.  The sales schedule a few pages back shows the following columns:

1. Units Sold = 1077.5

2. Sale Date = 06/24/21

3. Sales Proceeds = I have sales proceeds from the broker's 1099-B of $5,890.00

4. Purchase Price/Initial Basis Amount = $8,979   This is different than what the broker shows.

5. Cumulative Adjustment to Basis - (93,826)

6. Cost Basis = (84,847)  This is supposed to show on Form 8949 Column E

7. Total Gain or Loss is supposed to be #6 minus #3

8. Gain subject to Recapture as Ordinary Income = $82,312   This is supposed to show on form 8949 Column G.

I have entered the 1099-B transaction as shown on the 1099-B but now I need to adjust the numbers to reflect the above information.  I have tried every way except the right way to do this in ProSeries!  How can I get the negative numbers to appear where they should be??

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