When an LLC defers their Net 1231 Gain by investing in a Qualified Opportunity Zone Fund, how should the deferral be presented on Schedule K?
I have followed Lacerte's instructions and have the deferral amounts showing up properly on Form 8949. However, when that information flows to the Schedule K, I have the deferral amount showing on Line 9a as a LT Cap Loss and the entire amount of the 1231 Gain (not reduced for the deferral) showing up on line 10. These amounts then flow to the K-1s telling the partners they have a 1231 Gain and a LT Cap Loss. Is that the correct presentation for this transaction? Are there any better ways to report it?