ErnieS0
Expert Alumni

Get your taxes done using TurboTax

It sounds like you are entering the sale twice. Your K-1 entries suggest the S-Corp reported the sale of the restaurant on the corporate return and passed along the capital gain to you.

 

The questions TurboTax is asking may refer to the gain or loss from your sale of shares of the corporation.

 

If the corporation ended with the sale of the restaurant there may be a gain or loss from your investment separate from the sale of the restaurant.

 

If the corporation is still ongoing, uncheck "The corporation ended in 2020."

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"