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mplusplus
Level 3

For Form 1065 (K1), what should I enter in this TurboTax screen? Screenshots attached.

I bought and sold these shares with 0 loss or profit in just a few days in 2016.
What should I enter in this Turbotax screen - http://4.1m.yt/VowWH0E.jpg
(If my Form 1065 K1 is this http://1.1m.yt/Dsy8lrq.jpg)?

Thanks a lot.
3 Replies
RichardK
New Member

For Form 1065 (K1), what should I enter in this TurboTax screen? Screenshots attached.

Your investment in the partnership was $5,844 and you received a distribution of $5,844, then it appears that you have no gain or loss, and no basis and did not sell your shares.

On the screen shot attached to your question, you could enter 0 as the Sales Price and 0 as the Partnership Basis.

On the Describe Partnership Disposal screen, you can select Complete disposition

On the Tell Us About Your Sale screen, you can select Liquidated Partnership Interest

mplusplus
Level 3

For Form 1065 (K1), what should I enter in this TurboTax screen? Screenshots attached.

Actually I sold all of these shares - does this make any difference in your answer? (Sold for exactly same price that I bough.) - Thanks a lot.
lz415
New Member

For Form 1065 (K1), what should I enter in this TurboTax screen? Screenshots attached.

I would like an answer to this question as well. I bought and sold all my shares of a company that sent be a Schedule K-1 form 1065, and I’m confused as to which of these options apply . TurboTax does not provide information on these options as they do on other pages of the filing process. 

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