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as I understand it, the broker listed no sale on the 1099-B, so ignore the PTP sale information, and just report the K-1 income, etc. Best regards, Michael Strelka, CPA 224-202-1554
Client has investment in a PTP receives detailed K-1 package from the PTP. Broker one merged with broker two during the tax year. PTP K-1 package treats the transfer from broker one to broker to as a sale. Neither broker provided any information on the ...
A taxpayer was a limited partner where the General partners did a section 351 exchange. The limited partner has a negative capital accpunt. do they need to recognize gain in the year of the 351 exchange? Thank you in advance Rich Egan
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