Welcome back! Ask questions, get answers, and join our large community of tax professionals.
  • Products
  • Workflow Tools
  • Learn & Support
  • Sign In
  • Products
  • Workflow Tools
  • Contact Us
  • Sign In
  • Learn & Support
    • Created with Sketch. See what's trending for the upcoming tax season. View ProSeries Hot Topics.
    Created with Sketch. See what's trending for the upcoming tax season. View ProSeries Hot Topics.
    cancel
    Turn on suggestions
    Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
    Showing results for 
    Search instead for 
    Did you mean: 

    Ending cap acct $40K. Sale of partnership interest $82K. Cap gain $42K? No hot assets, debt or inventory. "Tax Basis" is checked on K-1.

    uhtaxmba
    Level 3
    ‎12-16-2019 01:09 PM
     
    0 Cheers

    This discussion has been locked. No new contributions can be made. You may start a new discussion here

    1 Best Answer

    Accepted Solutions
    sjrcpa
    Level 15
    ‎12-16-2019 01:09 PM

    Capital account hardly ever equals basis.

    The more I know, the more I don't know.

    View solution in original post

    2 Comments 2
    sjrcpa
    Level 15
    ‎12-16-2019 01:09 PM

    Capital account hardly ever equals basis.

    The more I know, the more I don't know.
    George4Tacks
    Level 15
    ‎12-16-2019 01:09 PM

    https://accountants-community.intuit.com/search?filters%5Bcountry%5D=US&filters%5Bdocument_type%5D=A... has some good articles 


    Answers are easy. Questions are hard!






    Intuit Lacerte Tax
    Intuit ProConnect Tax
    Intuit ProSeries Tax
    Additional Accounting Solutions
    Tax Pro Center
    Tax Practice Resources
    Call sales: 844-877-9422
    Sitemap

    ©1997-2024 Intuit, Inc. All rights reserved.

    Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

    By accessing and using this page you agree to the Terms and Conditions.

    About Cookies | Manage Cookies
    Legal Privacy Security