B
Bobster
I bought shares of a PTP in 1998 for about $20,000. According to the annual
K1 statement, the capital account is now -$10,000 giving me a $30,000 gain.
If I were sell all the shares now would the $30,000 be treated as a capital
gain? Would any of it be ordinary income? Are there any other tax
considerations on selling these shares?
K1 statement, the capital account is now -$10,000 giving me a $30,000 gain.
If I were sell all the shares now would the $30,000 be treated as a capital
gain? Would any of it be ordinary income? Are there any other tax
considerations on selling these shares?