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The $60,571 was the capital account at the time that the partnership went bust. I get that that is how the custodian wants to wash its hands of the mess by usin...
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Good luck is right! Any number that I input is not taken into account in taxable income. The tax return continues to use the $60,571 gross distribution as the t...
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$1 seems reasonable & zero creates its own error messages that don't need to be incurred.There is nothing to physically receive. As was noted in another comment...
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I have a situation where a client invested IRA funds into a partnership which went bankrupt. The IRA custodian is now distributing the partnership interest to h...
