@msg92612 If you follow the procedure in this thread, there's no need to make any entries in 4797 (I assume you meant 4797?).
Cap Gain/Loss, as calculated from the Sales Schedule in the K-1, is handled on the 1099-B from the broker. When you work through this calculation both the adjustments to basis AND the ordinary gain are factored into the cost basis you enter.
Ordinary Gain is entered during the K-1 interview. Nothing more needs to be done with it.
You shouldn't need to make any entries onto the 8949 col g: you just change the basis provided by the broker, since it was never reported to the IRS.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
