I have the same question but from a slightly different angle. My PTP was was held in a brokerage account. When the PTP was sold in 2014 the data I imported from my financial institution includes the sale with other trades. Will this be duplicated using the sale information that I included when entering the K-1 data? If so, where will TTAX include the sale information that was entered with the K-1 data? should I then delete the item that was included with the imported data? Also, on the step-by-step "Describe the Partnership" page, there is a selection for "Disposed of a portion of my interest in partnership during 2014" but there is none that says I disposed of the my entire interest so how should I indicate this (or does "a portion" include the whole thing?). When I checked the portion box then on the associated form the box for disposing of the entire partnership did not get checked? I assume the box for "this partnership ended in 2014" is NOT the box used to indicate I sold my entire interest ... right?
Update: Looks like this question was asked and answered (a LOT!) in this TTAX blog thread:
The answer that I choose (from the list of 18 comments on the initial response ... which didn't seem to be optimum) was to
(1) go ahead and enter the K-1 sale info during the K-1 interview then (2) to go back to the imported 1099-B entry with the sale from the broker and adjust it so that cost basis to equal the sale price (no gain/loss). In my case this is preferable since the gain the broker reported did not match the gain that was provided in the K-1 package.. I choose the comment provided by LindaBelmont as answering the question on how to correctly report the K-1 sale. Linda says "Here is how I do it (and have never been questioned by the IRS)". Another comment-er suggested that it was an ERROR for the broker to have included this sale data on the 1099B since it needed to come from the K-1.
