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k-1
I received a final k-1 for Limited Partnership that I used to work at. I did not invest any money ($0 basis) but the business was sold in 2023. I was money from the sale for a small interest I had in the business. The K-1 I received only lists
5- Interest income
9a- Net Long term capital gains
19- Distributions
20- A & B
How do I answer the TT questions Sale price, Partnership Basis, Ordinary Gain, 1250 Gain? Basis I can assume is $0 (I looked back at the prior K-1). But it does not allow me to enter Long Term Gain ... only Ordinary Gain
Any guidance would be greatly appreciated.
‎April 9, 2024
11:47 AM