PAGB
Level 4

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Thank you for answering.

 

I don't see any 751 section or any "gain subject to recapture as ordinary income” 

 

And yes we no longer own any interests.

 

When completing the "Stocks, Mutual Funds, Bonds, Other" with TT we choose "a summary for each sales category" and will attach a pdf file for the 8949 since it is very big. 

So the sales reported on K-1 will be included in the summary section and will appear on the 8949.

 

To avoid the transaction being reported twice should I :

 

Describe the Partnership choose:  "This partnership ended in 2021"

 

Describe Partnership Disposal I would choose "No entry".