Only report the sale once. The sale can be reported through the K-1 screens or through IRS form 1099-B entries.
Be aware that if:
- At the screen Describe the Partnership, you report Disposed of a portion of my interest.... and
- At the screen Tell Us About Your Sale you reported Sold Partnership Interest,
the sale is being reported. You would not report the sale on IRS Form 1099-B Proceeds.
Alternately, you may report within the K-1 entries,
- at the screen Describe the Partnership, select This partnership ended in 2022, and
- at the screen Describe Partnership Disposal, select No entry.
In this case, you would report the sale on IRS Form 1099-B Proceeds.
Review the sale of the investment reported on IRS Form 8949 Sales and Other Dispositions of Capital Assets and IRS Form 1040 Schedule D Capital Gains and Losses.
You are able to view the entries at Tax Tools / Print Center / Print, save or preview this year's return.
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