@nexchap ,
I completely understand. Thanks so much for you advice. Can I prevail upon you one more time concerning a completely different K-1 from another MLP sale? I pretty much understand the method you’ve described here for dealing with ordinary gain/capital gain and entering that into Turbotax, but I’m unsure what I should do with the other amounts included on the K-1.
Specifically, Box 19A (distributions) shows a total of $23,054, of which $22,010 are sales proceeds for which I’ve calculated the gain as you’ve described, and $1,044 are the quarterly distribution payments received during the year. Since we’ve already figured the capital gain, should I even enter anything into this box at all? I also have $5,009 of “other income” listed in box 11F, and $5,285 of “net long-term capital gain” (attributable to the partnership, I assume) in box 9a.
Should I enter any of these in the K-1 interview process? Or are all of these amounts just subsumed into the gain on the sale?
Thanks again.
