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Business & farm
You clearly know what you are doing. Thank your time and patience!
Can you please tell me what do I enter in the Turbo Tax Wizard screen? Each input results in an entry on the forms.
Can you tell me based on my schedules what entries I should have on the 8949 for this sale? I have two: 1) Type E for the 751 gain with the incorrect basis (which I can't change because it came from the 1099B) AND 2) whatever the Turbo Tax K1 screen creates. When I inputted the $1818 in the ordinary income field and zero as the basis (I believe those were your instructions) Turbo Tax created a Type F entry on 8949 for the sale with a -1703 loss. Is that right? or at least close????
Sales price field —> column d
Partnership basis —> column e
Ordinary income --> ?