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@Mike9241 @Rick19744 @VolvoGirl 

 

Thanks guys: It was really helpful. Now I am doing finishing touches to 2023. So far it went very smoothly.

 

Q: How information is flowed from K1 to 1040 (I am talking about K1 entities which I have sold)? Now I have sold some of these, I want to see how it went? I went backward. It is is on 1040 (line 8 and it came from Sch 1 (line 10) and not sure before that?

 

Q: Form 4797 deals with Sale of business either by me or K1 entity I owned. What is difference between Sch D and 8949 as both deals with same thing? Where information goes first 8949 then to Sch D?

 

Thanks