Hello Champ:
Thank you for your answer but it does not help because Turbotax does not populate lines 2d, 2e and 2f, nor does it state explicitly how it derives the results shown in line 2g.
Let me be specific. I have 31 Master Limited Partnerships, mostly pipeline companies. All have K-1 Schedules that were put into Turbotax. Each Schedule has at least 20 lines and each line has multiple sublines that have the K-1 Schedule data. Form 4797 can utilize data in several of the sublines in order to construct the entries in lines 2d, 2e and 2f.
Now, let me show you what Turbotax displays for the entries in Form 4797 on my Tax Return.
(2a) Descritioon of Property (2d) Gross Sales Price .... (2g) Gain or Loss
From PTP Blank 1,345
From K-1 Blank -7,418
In summary, only lines 2a and 2g are populated. In addition, the Turbotax writeup explaining how to derive 2g from K-1 Schedules is very general and not helpful.
I hope I have explained the problem.
Regards,
George
