@Mike9241 had some good info related to this topic in late-2023 but I have never had to deal with this type of sale, so I have more questions.
Here is the info I have:
- I have entered the k-1 info
- Checked the PTP box
- Checked the final K-1box
- Checked disposed of entire interest
- I then followed Mikes steps resulting in the following:
I'm not sure of what to enter for the 1250 gains if anything? Next, Mike you mentioned "Lines 20AB should be added to the ordinary income above for reporting the 199A (qualified business income from the PTP)", I'm not sure specifically where I enter this. Also, the supplemental information on the K-1 (specifically the items labeled 20ZZ) don't seem to be included anywhere as when I look at the populated TT forms I don't see them? My prior years passive losses are being incorporated but am concerned Item 20ZZ5 (Partnership Interest Disposition Loss of $-3,638 is not reflected anywhere? Any help would greatly be appreciated!
