Hello,
i've entered all my K-1 information for a LP that ended last year but baffled by how to enter the Sale Information in TurboTax Premier. If I can get this done, my taxes are done.
There are 2 columns in TT Regular Gain or Loss AMT Gain or Loss
with below fields
- Sale Price
- Selling Expense
- Partnership Basis
- Ordinary Gain
- 1250 Gain
and I have no idea how to fill out based on the K-1 which gives me Sales Proceeds, Purchase Price / Initial Basis, Cumulative Adjustment to Basis, Cost Basis, Gain Subject to Recapture as Ordinary Income, AMT Gain/Loss Adjustments, Percentage Long term.
Any help is greatly appreciated!
