Accountant-Man
Level 13

Whenever I saw a sale of a PTP on both the K-1 and 1099, I entered both but also made an entry to zero out the 1099 entry SINCE IT WAS WRONG AS YOU STATED. The 1099 basis was the original cost.

The K-1 sale entry would correctly report any gain or loss and any recapture.

** I'm still a champion... of the world! Even without The Lounge.
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