PatriciaV
Expert Alumni

Get your taxes done using TurboTax

Based on this additional information, you need more details from the firm that prepared the LLC return in order to complete the Schedule K-1 entry. In most cases, a second page of "Additional Information" is included when an LLC reports the sale of assets held by the LLC. Without that information, you won't be able to accurately claim your allocated portion of the gain or loss on the sale.

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