I received both 1099-B and K-1 for the same sale. 1099B cost basis is not available. How do I enter 1099B?
Since 1099B cost basis is not available, should I only enter all data in K-1 and ignore 1099B?
Since 1099B cost basis is not available, should I only enter all data in K-1 and ignore 1099B?
You must enter in the K-1 and report the sale on the 1099-B using the basis info from the K-1. Failure to do both will get you an IRS audit letter.
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