nexchap - Can you help again? I've tried to follow your guidance and am getting a possible discrepancy after following your advice and what's on my K-1's sales schedule. Specifically, I've calculated my total gain/loss by subtracting the adjusted cost basis (column 5 on the sales schedule) from the sales proceeds (blank on the sales schedule but was provided on the broker's 1099-B). I believe that the column 5 number is correct. I get a positive number. However that total gain number is smaller than the positive number that's provided by the PTP in their sales schedule column 7 which is the column for gain subject to recapture as ordinary income and which you called "ordinary gain" in one of your msgs. Am I making a mistake or am I having difficulty accepting the fact that my complete disposition transaction in 2019 actually did produce income subject to taxation as ordinary income despite the arithmetic telling me that it was accompanied by a long term capital loss (following your guidance to split my total gain between the number reported in column 7 and a long term capital gain/loss, which is not explicitly specified on the sales schedule)? Thanks in advance for your comment. Also, I can't find any numbers on either the K-1 or the sales schedule that suggest I have a "1250 gain" number to enter in the relevant box in the interview. On my K-1, there's no entry for Part III box 9c. The TT help says, "For a liquidation, if the partnership indicates that any unrecaptured section 1250 gain applies, enter the amount on line 12." So, I'm assuming I should leave it blank.
