@nexchap here is the post at the top of this thread.
"Because of all this, I handle all scenarios the same way:
Use the K-1 interview for the 'ordinary gain' portion of the MLP sale, but not the capital gain/loss. Do this by: 1) enter 0 for sales proceeds, 2) enter the ordinary gain numbers provided on the K-1. Note that there will be two ordinary gain numbers, one for Regular and one for AMT, and 3) set your basis as the inverse of the ordinary gain (for example, if ordinary gain was 100 (regular) and 90 (AMT), set basis as -100 (regular) and -90 (AMT). Doing this puts the ordinary gain into all the right spots on your tax return, but sets the capital gain/loss as $0 for both Regular and AMT.
"
On k1 questionnaire on turbo tax. these are the questions at that step where I entered the ordinary gain information .
Regular gain or loss
heading. what I entered.
sales price - 0 ( zero)
selling expense - I did not fill it
partnership basis - 0 ( I entered zero)
Ordinary gain - I entered the inverse of the ordinary gain shown in my k1 sales schedule here. in my sales schedule ordinary gain is + 7, I entered - 7 in the box. This number -7 is showing up in my 8949 form. what could I be doing wrong?
thanks a lot for your help.
