I entered a long term gain on one line after selling my interest in a parnership that sent me a K-1. Could I also have a section 1250 gain and how do I figure out what that is?
You'll need to sign in or create an account to connect with an expert.
I'm going to page Champ @Rick19744 for this. Check back later, please.
Also, I believe your K-1 would show an unrecaptured Section 1250 gain if one existed.
While the facts are not real clear:
see this link from the iRS
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
vickap
Level 2
kash9
Returning Member
kash9
Returning Member
k1taxes24
Returning Member
vickap
Level 2
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.