Michael
Level 3
06-11-2024
11:48 AM
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I'm trying to figure out how to enter a PTP distribution in excess of basis. I don't see a way to have the program handle it and I'm not sure where I need to enter the info. Any guidance would be appreciated.
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abctax55
Level 15
06-11-2024
12:10 PM
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It's reported on Sch D via F 8949 - I'm a Lacertian so I can't tell you the specifics for data entry in PS.
Long-term (assuming the PTP has been held long enough) but tagged as not reported to the IRS.
I call it 'distributions in excess of basis'.
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