Question

CAPITAL GAINS: NO GAIN: CHANGE OF NAME FROM BLACKSTONE GROUP L P TO BLACKSTONE GROUP INC

Forum|Forum|6 years ago
March 23, 2020
1 reply
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WHAT FORM DO I USE TO SHOW CHANGE OF NAME

FROM BLACKSTONE GROUP L P SELL 544 SHARES $27,991.74

TO BLACKSTONE GROUP INC EXCHANGE 1,024 SHARES $27,991.74

D

DavidD66

If this was reported on Form 1099-B, then to report it in TurboTax by:

Click on "Search"
Type "1099-B" in the search window and hit "Enter"
Click on "Jump to 1099-b"
Answer "Yes" to Did you sell any investments in 2018?
Answer "Yes" to "Did you get a 1099-B or a brokerage statement for these sales?"
You can either download your 1099-B information or Enter it yourself.

TurboTax will guide you through the rest of the process of reporting your investment sales.

If it was not reported on Form 1099-B, then you don't need to report it.

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S

sbeards

As a follow up to the question: After the name change we sold all our shares, except for 300 shares at the end of 2019. We then bought additional shares. Since we did not sell all the holdings as of 12/31/19, on TT we can't enter that the partnership ended until we sell the 300 shares, right? According to the K-1 instructions, any passive loss carry forwards can only be taken once the total shares held while Blackstone was a LTD are sold entirely.

We the sold the 300 shares recently in 2020, so that means for our 2020 taxes I will need to enter a K-1 for Blackstone showing that we ended the partnership, even though Blackstone will not be sending a K-1 for 2020.

Am I approaching this correctly?

D

DianeC958

If you received a K-1 for the partnership and you sold your piece of the partnership in 2019, the K-1 you received would have a check mark in the box, Final K-1. Since you still own shares at the end of 2019, you have not sold your piece of the partnership completely.

If you still own part of the partnership in 2020, you will still receive a K-1 for 2020, until you completely sell your piece of the partnership. Once the K-1 you receive is marked Final K-1, then you can take any suspended carryover losses.

@sbeards

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