sjrcpa
Level 15
01-22-2021
01:15 PM
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If losses in excess of basis were deducted on 2018 and 2019 tax returns, those returns need to be amended to show the correct losses.
If distributions in excess of basis were taken in those years, that is capital gain income for those years.
EDIT: I did not see any other answers when I posted mine.
The more I know the more I don’t know.