My K1 from a publicly traded partnership, Box 10 Net Section 1231 gain (loss) shows -3, but no code is provided. After completing all K1 info, TurboTax error check is giving me an error and wants a code for this Box 10. The included instructions with the K1 for Box 10 state "This is your share of gain or (loss) from the disposition of tree or business assets held by the Partnership for more than one year. Report this amount on Form 4797." When I go directly to From 4797 Part I, item 2 shows box (a) description of property as "From PTP" and box (g) as -3. This all seems correct to me. Do I simply ignore TurboTax error check message?
IF not than which of the codes provided should I select (A-Other portfolio income (loss), B- Involuntary conversions, C- Sec 1256 contracts and straddles, D- Mining exploration costs recapture, E-Section 951(a) income inclusions, G- Section 951(a)(1)(B) inclusions, H-Reserved, I - Gain(loss) oil, gas, geo etc disp, J - Recoveries of tax benefit items, K-Gambling gains and losses, L-Reserved, M - Gain sec. 1045 rollover corporation, N- Gain sec 1045 rollover (not corp), O-Sale QSB stock sec 1202 exclusion, P, Q, R all reserved, S- Non-portfolio capital gain(loss), T,U,V, W, X all reserved, ZZ - other)
