Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Mar 25, 2022 7:37:35 AM

I sold an MLP interest it is included in the brokerage statement that I downloaded. Do I need to enter the details in the Schedule K section also?

The review comments want the details Can I file the return electronically without resolving the review comment

0 1 159
1 Replies
Level 9
Mar 25, 2022 9:53:00 AM

Yes, and its complicated because the cost basis from your brokerage is wrong (they don't see your K-1s) and you also have to enter the Ordinary Income that shows up on your K-1 sales schedule.  This post has a lot of detail on how to do it:  https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/how-i-report-the-sale-of-mlp-shares-in-turbo-tax-i-sold-all-shares/00/776624