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Tax basis

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Frank Kirk

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Mar 13, 2023, 1:04:02 PM3/13/23
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My apologies if this has been discussed before, but I couldn't find
anything.

1. Can anyone offer suggestions on the treatment of basis reduction
due to a loss in a master limited partnership?
2. How do people handle basis increase due to the dis-allowance of
wash sales?

(Yes, it's been a lousy year...)

Return of capital transactions appears to be the only way, but that
doesn't really seem right...

I'm using Quicken H&B 2013. Many thanks.

Andrew

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Mar 13, 2023, 1:07:10 PM3/13/23
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Way beyond my pay grade :-) but you might also consider asking this
question on the TurboTax community forum that Intuit maintains. They
have a sharp group of folks who know their stuff there.

https://ttlc.intuit.com/community/

(and I did my taxes this weekend and you're right, 2022 sucked.)


--
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Regards -

- Andrew

John Pollard

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Mar 13, 2023, 2:20:24 PM3/13/23
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I too have no expertise in this area.

But here is a discussion in the Quicken Community which appears to address the issue.

https://community.quicken.com/discussion/7887205/wash-sales

Frank Kirk

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Mar 15, 2023, 11:29:59 AM3/15/23
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Many thanks. Will check out the suggestions.
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