Client has an investment in a partnership and gets a liquidating distribution of preferred stock with cost of 100k and FMV of 400K. How is this treated for tax purpose on the clients return?
Announcement
Collapse
No announcement yet.
Distribution of Preferred Stock from a K-1
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.