The same way that he would have if he had a whole partner...
Client received a 1099-S for gross proceeds but had 1/2 partner. How do I reflect this sale on tax return? Sales price will agree to 1099 but I need to make adjustment.
The same way that he would have if he had a whole partner instead of half. Add the partners share of the proceeds to his basis. But make sure the partner is reporting his 1/2 of the gain.
The same way that he would have if he had a whole partner instead of half. Add the partners share of the proceeds to his basis. But make sure the partner is reporting his 1/2 of the gain.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.
