@nexchap Thank you so much! You much be a CPA or someone really understands this! Here are a few other questions I have regarding this and hope you may be can help to answer.
1. I selected the K-1 ended in the 2020 box after you suggested it and it did pop up additional sections for me to fill out. I tried to make it simple last time so I just write one purchase and sell transaction but the reality is actually as below.
BUY 3/9/2020 2000 (unit)
BUY 3/12/2020 4000 (unit)
BUY 3/19/2020 4000 (unit)
BUY 3/25/2020 3000 (unit)
BUY 3/26/2020 4000 (unit)
SELL 4/3/2020 -15000(unit)
SELL 4/6/2020 -2000 (unit)
So after I selected the box of "this partnership ended in 2020" there were additional boxes show up. FOr example, it asked me
1. Enter purchase and sales date, which only have one box. How should I enter that?
2. The next page is the page I think you mentioned above. What do you think I should enter here?
Regular Gain or Loss
Sale Price:
Selling Expense:
Partnership Basis:
Ordinary Gain:
1250 Gain:
AMT Gain or Loss
Partnership Basis:
Ordinary Gain:
1250 Gain:
Really appreciate your help!
