Solved: For Form 1065 (K1), what should I enter in this TurboTax screen? Screenshots attached.
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
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.
1 Best answer

Accepted Solutions
Highlighted
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

View solution in original post

2 Replies
Highlighted
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

View solution in original post

Highlighted
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.
Privacy Settings