@HH_22 Ordinary Gain would be reported on the Sales Schedule, so if there's none there your situation is a bit simpler. But the basics still apply:
- Enter your K-1, following the interview. This will let TT handle the K-1 entries and any losses received from the partnership. On the sale, since you don't have any Ordinary Gains, you'd just enter 0 for proceeds and 0 for basis.
- Your 1099-B was likely code B or E (cost not reported to the IRS), so change the cost so that the correct Capital Gain/Loss is 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!
