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Business & farm
Report the sale in only one place. Retain all paperwork should a tax authority have a question at a later time.
The record of the partnership K-1 sale may occur through the K-1 screens or through the IRS form 1099-B entry screens. You would not report both.
Be aware that if:
- At the screen Describe the Partnership, you report Disposed of a portion of my interest.... and
- At the screen Tell Us About Your Sale you reported Sold Partnership Interest,
the sale is being reported.
See also this TurboTax Help.
@whmoa
[Edited 04/09/25 | 9:30 pm PST]
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‎April 9, 2025
9:27 AM