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Business & farm
Hi @Rick19744 - I'm pretty good with Excel so I (naively!) thought this would be straightforward.
I've read through the worksheet instructions a few times on page 3 of https://www.irs.gov/pub/irs-pdf/i1065sk1.pdf .
Alas they don't tell you which K1 fields to use to calculate each row in the worksheet. So, I don't think a non-accountant like me can realistically interpret the instructions. It's too bad because I am betting that these entries could be derived from the K1 given the formulas. Maybe this would be a good TurboTax enhancement for the future-- to create/maintain the cost basis worksheet for the investment in a partnership.
On any account I want to say thank you for your help nonetheless!
March 5, 2022
10:55 AM