You'll need to sign in or create an account to connect with an expert.
The sale needs to be reported only once. This is very common with these interests in the partnerships (K-1 and 1099B).
I personally like to report it only in the K-1 section as my basis information is also there.
IRS is aware of the multiple reporting of these sales and will look for it in the matching program to prevent you from getting a letter from them.
Hello,
I finished 2020 tax return with 1099B. And I just received a K-1. do I need to adjust?
Thank you
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
solomon_g
Level 1
teresadawn70
New Member
jagunlabi
New Member
Tetiberryzzz
New Member
AS80
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.