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Invesco Municipal Opportunity T Message Board

djay20854 3 posts  |  Last Activity: 39 minutes ago Member since: Feb 7, 2009
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  • djay20854 djay20854 39 minutes ago Flag

    Thanks. I posted my last reply before I saw your reply. I think this sounds right.

  • djay20854 djay20854 41 minutes ago Flag

    After getting into this further, it now appears that the amounts in the prior K-1 Line 1's add up to a loss that finally gets recognized this year in Part 2 of Schedule E upon disposition of the entire interest in KMP. This effectively offsets much of the ordinary gain shown in Column 9 It appears to me that the Line 1 amounts aren't reflected in Column 6, but I'm still wondering why you think these amounts should be included in Column 7? Anyone?

  • In an earlier thread back on 2/21, Richoncat posted that “Column (7) is the sum of all your previous and current K-1's Line 1.” Do you still think that’s correct? I’m not sure, but it strikes me that any adjustments from K-1 Line 1 would already be reflected in Column 6, and that most people won’t have anything to enter in Column 7 unless they had reached a zero basis, in which case they should have been declaring their distributions as income, and those distributions would then be used to adjust their basis back upward. Doing it your way results in a much lower Total Gain in column 8 (and a lower capital gain in Column 10), which would be great, but I’m not sure it’s correct. Have you given this any more thought, or does anyone else know if this is correct?

VMO
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