JeffCPA
Level 4
03-04-2023
01:05 PM
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I will go back through the worksheets, and no worries on being busy. Certainly understand that. No need to reply to this message, but in gross terms,
the K-1 shows 93k of unrecaptured 1250k (roughly), and another 195k of Section 1231 gain. Thus, there is total gain of 288k being shown on the K-1. There is essentially no other gain on the return.
There are 95k of carrry over losses. Thus, the 1040 should be showing gain of 193k. But Schedule D on Form 1040 is not showing that. It is showing gain of only 100k. The carryover losses are being used twice to offset the gain. that is what is not making sense to me.