step mode
wage and income tab
I'll choose what to work on
scroll down to business items
click on update k-1
click on update partnership/llc
highlight partnership then click on edit
click on continue until you get to the window that says "describe the partnership"
check "this is a publicly traded partnership" and
check "disposed of a portion pf my interest in partnership in 2023"
click continue
on the "enter sales dates" window
enter the appropriate dates
click continue
on the "enter sale information" window
enter the ordinary income on the line that says "sales price"
enter the same amount on the line that says "ordinary gain"
if the ordinary gain is less than the passive losses, if any, passive losses will be allowed to the extent of the ordinary income. any remaining suspended losses would not be currently deductible until there either there is complete or partial disposition. if there are no passive losses igmore this.
