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Get your taxes done using TurboTax
@Stop-Tax-Co-Lobbying Nothing on the K-1 (e.g., Ordinary Income) is affected by holding period: you enter it the same way regardless of long or short or a combo of both. In the sale part of the interview, when it asks about purchase and sale dates, you can just enter 'Various' if there's not a single date. The only thing you need to adjust is over on the 1099-B, where you'll use the info on the Sales Schedule to adjust the short and long term entries.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
May 9, 2021
6:19 AM