The reason your basis adjustment is -1207, rather than -1000, is that your basis is adjusted for distributions AND all the other income and deductions that show up on the K-1. The extra -207 means that you must have reported that much in losses elsewhere, either this year or in the past. Note that any losses reported on the K-1 will be released when you sell, and will show up on Sched E.
The gain subject to recapture (Ordinary Gain) is driven by the tax code. In most holdings, your profit on a sale is all Cap Gain. But with a partnership, that profit can be split, partially Cap Gain and partially Ord Gain (taxed at ordinary rates). So the 182 is the amount of profit to be taxed at Ordinary rates. The easiest way to reflect that in TT is to just increase your cost basis by 182, but you can also enter it as an adjustment if you prefer.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
