I have this exact same question. I do have my K1 from last year and this year, however unable to figure out what numbers from my K1 map back to the specific fields in Turbo.
What should Sale Price, Selling Expense, Partnership Basis, Ordinary Gain be populated from in the K1?
Details: K1 is from a LLC partnership (real estate rental) that started in 2019 and the property was sold in 2020. Since I have indicated that the partnership closed in 2020, I see the following additional section in Turbo:
'Enter Sale Information'.
Although I filled out the fields that were specific to the boxes 2 through 20 in a later section, the above seems to be an additional step with the the following fields:
1. Sale Price
2. Selling Expense
3. Partnership Basis
4. Ordinary Gain.
Could you suggest what numbers from my K1 map back to the specific fields in Turbo stated above?
