I sold a single share of a partnership last year. I have already uploaded the brokerage company information from the sale, but I am struggling with entering the K-1, particularly the regular and AMT gain and loss section. (I was able to download a .txf form from the company that is supposed to work with TurboTax, but it refuses to load it.)
In Part II, the K-1 form has all 0% in section J. Section K1 has nonrecourse beginning 3 and ending 7, the rest blank. K2 is checked. Section L has 25, 0, -3, 0, (2), 20. Section M has "No" checked.
In Part III, 1 Ordinary business income (loss) is -3. Section 17 AMT items has -1. Section 19 has A and 2. Section 20 has A and 0, then N and 1, then V and -3. Every other section is either 0 or blank.
How do I use that information to determine what goes in the regular and AMT gain and loss sections?
