Hi, I have a final K-1 1065, where I sold all of the shares. And the K-1 package is telling me that I need to enter the section 751 gains on 4797. So your answer sounds like what I should be doing, but I find it confusing given the TTax flow.
I do have a small amount on my K-1 box 11 with code=I, that I entered. However, the K-1 form is telling me that this needs to go on schedule D, line 12.
And then I have a box 20 code=AB amount that is the gain (a big gain), and TTax does tell me "Section 751 gain", so it sounds like that's the right place to enter it for 4797 purposes. But it doesn't end up on the 4797.
Bottom line, I find it confusing that my K-1 is reporting the section 751 gain on box 20AB, and TTax is accepting this, and acknowledging it as "section 751 gain", but it doesn't end up on the 4797. Not to mention that I have something in box 11 with code=I, that is supposed to end up elsewhere.
Any thoughts?
