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Financial Planning / Tax Strategies


Subject:  Re: K1 Reporting Date:  4/6/2005  8:32 PM
Author:  edcosoft Number:  78355 of 128041

I cannot stress enough Peter's position that your cost is NOT your basis. Review his and ira's post in regard to your basis computations. NOR is the basis shown on the partnership statement of share value your basis. You have done different things with your K-1 items than anticipated by the partnership. For instance, you poabably couldn't take passive losses every year, but could in some years, wheras their tracking of a partners interest assume they took all the passive losses. What a mess. KEEP YOUR K-1s ed

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