02-18-2005, 10:17 AM
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 Re: ltd partnership basis "gypman" <ggreen1[at]san.rr.com> wrote: - quote - > I have a Ltd Partnership (a realestate investment trust)
It's not your basis, nor is your basis readily ascertainable> that has been a dog. I got an offer to buy it for $100 per > share. ( I have 10 shares so would get a total of $1000 - > $100 fee). > The capital account at the end of 2003 (have not recieved > the k-1 for this year yet) was listed as <7368> , which I > assume is a negative number. Is this my basis? If so how > do I handle a negative basis on sched. D. I don't even know > if I have a loss or a gain. even by looking at the most recent tax return. You need the services of someone who is familiar these issues to look at it for you. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-16-2005, 10:57 PM
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| ltd partnership basis I have a Ltd Partnership (a realestate investment trust) that has been a dog. I got an offer to buy it for $100 per share. ( I have 10 shares so would get a total of $1000 - $100 fee). The capital account at the end of 2003 (have not recieved the k-1 for this year yet) was listed as <7368> , which I assume is a negative number. Is this my basis? If so how do I handle a negative basis on sched. D. I don't even know if I have a loss or a gain. george green in sunny san diego << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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