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Where to enter a Partnership basis in ProSeries Basic

Willie63
Level 1

The K-1 (1065) is showing a gain on the sale of client's partnership interest on line 9a.  This amount is the gross taxable amount.  I can not figure out in ProSeries Basis where to enter the basis for this sale to offset the gross gain listed in box 9a.  

In Part 2 of KIP Additional Info 2 there is a section for Disposition of Partnership Interest where you can enter the basis on line 7 but when I enter the sales price on line 5 (reentering the same amount that appears on box 9a of K1) it seems to be double-counting the gross sale.

 

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3 Comments 3
sjrcpa
Level 15

On what form(s) do you expect the sale to appear?


The more I know the more I don’t know.
Willie63
Level 1

Not sure.  This is out of my normal scope of work. 

I understand the gain is appearing in box 9a, just not sure where I can apply basis to offset.  

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abctax55
Level 15

The K-1 (1065) is showing a gain on the sale of client's partnership interest on line 9a.

I believe this statement should be re-evaluated.

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