sjrcpa
Level 15
03-04-2023
12:53 PM
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I'm too busy to work thru your numbers, but look at it another way.
Suppose client got that K-1 and had $300K of current year net capital losses. The unrecaptured 1250 gain has no tax effect because it is smaller than the losses.
I would manually work through all of the Sch D worksheets.
The more I know the more I don’t know.