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Has anyone had issues with the Form 4797 doubling the Section 1231 gain from a Sch K-1?
Has anyone had issues with Turbo Tax doubling the Section 1231 gain on Form 4797?
Form 4797, Part I, line 2 reflects the Section 1231 gain reported on the Form 1065 Schedule K-1. Then Turbo Tax functionality reports the Section 1231 gain again on line 32, which includes the gain again on line 6, thereby doubling the gain.
Form 4797, Part I, line 2 reflects the Section 1231 gain reported on the Form 1065 Schedule K-1. Then Turbo Tax functionality reports the Section 1231 gain again on line 32, which includes the gain again on line 6, thereby doubling the gain.
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March 25, 2024
10:05 PM