@Rick19744 I was wondering if I needed to modify this Sales Info worksheet to account for any AMT adjustments. If you notice my photo of the Sales Info page, the Partnership Basis and the Ordinary Gain are the same in both columns - Regular Gain/Loss and AMT Gain/Loss.
However, if you see the photo showing the Sales Info, there is a column 15 (Alternative Minimum Tax Basis Adjustments) which contains 2 amounts equaling -370.
In another post for another K-1 that I had, I think I needed to put those numbers into the Sales Info. (See: https://ttlc.intuit.com/community/taxes/discussion/re-k-1-with-box-1-and-box-2-values-how-to-fill-ou... )
So would I need to do something similar on this K-1? If so, what would I enter into the AMT Gain/Loss column for both Partnership Basis and Ordinary Gain?
Also, I understand that your method of entering the K-1 is slightly different from the method suggested in the above post. Can I assume that the resulting tax numbers would be the same using either method, and also, do you think anything would be flagged by IRS by using the 2 different methods for the 2 K-1s?
Thank you!
