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Get your taxes done using TurboTax
The IRS web page that you referenced says to enter it "as a transaction" on Form 8949. In other words, you enter it like a sale of stock. The description of the stock is "Section 1061 Adjustment." You can do this in the Step-by-Step interview. You do not have to use forms mode. You have to enter two sales, one short-term for Part I and one long-term for Part II. Enter the basis and proceeds for each sale as specified in the IRS web page. This will put the necessary entries on Form 8949.
‎September 25, 2022
9:58 AM