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Get your taxes done using TurboTax
No. These are two separate business interests. Besides, you do not report an entry in Box 14 of a K-1 in a Schedule C because your share of the profit and loss is reported in Box 14. If it is a profit, you will be assessed a self-employment tax.
You would report this as a liquidation of partnership interest if that choice appears before you, if working in the desktop version of Turbo Tax. If online, pick Disposed of a portion of my interest in partnership during 2023.
Your Box 20 entries look good especially the ZZ details.
Anyhow, enjoy the remainder of your year.
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‎April 16, 2024
4:27 PM
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