Help - Schedule K-1 Tax Question
dThanks for the good points. *SHOULD* not. I agree. I read postings that say it happens, however, including from brokers which offer the TXF file of the 1099B. Then how do you deal with it? You disagree in a way. Whether it is an imported "A" or a paper "A", I think we will have to use column (b) and (g) if our brokers do not do what they should.
Now if the broker reports the sale as a "B", then you can just override the basis if you imported it. You still need to deal with getting rid of the "C" entry that TT generates. Or don't import from the broker if you don't want to override.
I hope there is a nice way to handle this for next year. I will look to polish up my try at a procedure to work with TurboTax 2011.
The IRS is going to get a lot of different methods used by taxpayers for 2011, I suspect.