sjrcpa
Level 15
03-31-2025
05:31 PM
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Technically, the basis used is that immediately before sale. So unless the sale took place at Jan 1 12:00 AM or Dec 31 11:59 PM you can't use the 7203.
Start with the beginning of year basis and add/subtract/prorate somehow through the date of sale. Then divide by 4. Then reduce the amount on the 7203 by this. Do a spreadsheet for the computation.
Repeat each year.
Don't forget to reduce AAA accordingly, too.
The more I know the more I don’t know.