Answered: PTP distribution in excess of basis

Michael

I'm trying to figure out how to enter a PTP distribution in excess of basis. I don't see a way to have the program handle it and I'm not sure where I need to enter the info. Any guidance would be appreciated.

abctax55

It's reported on Sch D via F 8949 - I'm a Lacertian so I can't tell you the specifics for data entry in PS.

Long-term (assuming the PTP has been held long enough) but tagged as not reported to the IRS.

I call it 'distributions in excess of basis'.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

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abctax55

It's reported on Sch D via F 8949 - I'm a Lacertian so I can't tell you the specifics for data entry in PS.

Long-term (assuming the PTP has been held long enough) but tagged as not reported to the IRS.

I call it 'distributions in excess of basis'.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

PTP distribution in excess of basis

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