@Mike9241 Thank you for your help.
1 "Partnership Basis by using the supplemental schedule", what is a supplemental schedule, my k-1 came with a sales schedule and a transactions schedule. On the sales schedule, it has
PURCHASE PRICE / INITIAL BASIS AMOUNT
CUMULATIVE ADJUSTMENTS TO BASIS
COST BASIS
PERCENTAGE LONG
Should I use "PURCHASE PRICE / INITIAL BASIS AMOUNT" or "COST BASIS"?
2 "Sale Price - from the 1099B you got or should get from the broker"
Is this the proceeds (total of 30 shares) from my 1099B? Will I be double taxed on this part, since 1099B includes this information already?
3 "Ordinary Gain from that supplemental schedule" I don't see a box says "ordinary gain". Do you mean ordinary income in Part III of my K-1? In Part III, only 11 other income has a number and all the other boxes are empty.
4 "only the ordinary income portion of the disposition gain is reported through the K-1
sales price = ordinary income
cost = 0
ordinary income = sales price above"
Do you mean if only ordinary income box has a number on my K-1, I should you what suggested here?
5 What about the AMT gain/loss part? put the same number in?
6 Is the Form 8949 generated by TurboTax or something I should get from somewhere?
Thank you.
