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Section 1061 Adjustment required on form 8949 - How can it be input?
I have received a K-1 with Box 20 line AH information provided in relation to a Section 1061 adjustment that I must include in my return. After a lot of research at the IRS website (https://www.irs.gov/businesses/partnerships/section-1061-reporting-guidance-faqs) I have determined that I need to add adjustments to form 8949 Part 1 line 1 and part 2 line 1 with the description "Section 1061 Adjustment" to recharacterize some of the net long-term capital gain reported in the K-1 in Box 9a from long-term to short -term. This is apparently new for form 8949 for 2021 returns.
Is this supported by TurboTax? I can't seem to figure out how to input the adjustment into form 8949. Any ideas
‎September 25, 2022
7:31 AM