How do you report the basis of a partnership interest when the gain on the sale is reported on a 1065 K-1 box 9a? should the K-1 report the gain (loss) net of any basis?

raul · ‎12-07-2019

sjrcpa · ‎12-07-2019

Box 9a is gain on a sale incurred by the partnership. It is not gain on a partner's sale of his partnership interest.

The more I know the more I don’t know.

TaxMonkey · ‎12-07-2019

I recently encountered a CPA who thought that the partnership redemption should be reported in 9a, after an unproductive phone call with him, is sent him his K-1s back with copies of the Forms 8082 I filed with my clients tax returns.