Hi Warren,
The updated instructions from Hines for entering the Grantor Letter info into Turbo Tax say to create a Trust K1. I followed their instructions, which begins by searching for 'sale of business property'. You input the 'Business Property Gain or Loss' from our letter into a Total Sales Price field, along with dates acquired & sold. This definitely generates a Form 4797. But...when I followed all their directions, I ended up with errors from Turbo Tax. I'm very frustrated at this point! I think the Partnership K1 track that you suggested & I shared in a post yesterday makes the most sense.
As to where the UBIA goes after we enter it in the K1, I think it's as has been suggested: in our situations, it ends up being zeroed out. You know those instructions that say, "If Line 19 is less than <whatever>, enter 0" Anyway, thank you for your helpful input! Let's hope we call put this behind us very soon!
Dorothy
