@des779 That part of it would be handled on the 1099-B. I assume you got one from your broker. It would show the $68k received (and that would be reported to the IRS), but the cost it shows isn't reported, and is wrong. So during the interview, there will be a spot where you can check "The cost is wrong" and enter the correct number: $94k. That successfully handles that part of the sale.
On the K-1, you just want to handle the Ord Income. So you'd enter 0 for sales, $62k for Ord Income, and -$62k for basis. There's also an adjustment for AMT, so you can handle that in the 2nd column if AMT affects you. That will get the $62k onto form 4797 where it belongs.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
