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Business & farm
When you sell your interest in a partnership the portion of the sale that is taxed as ordinary income is the reduction in basis due to depreciation. If there is no detail on your K-1 in boxes 9 or 10 I am not sure why you think that you have this recapture. Based on the instructions that you received with your K-1 it seems like you have capital gains to enter into form 8949 which may or may not carry over to form 4797. However, if they are coded properly on your K-1 then the numbers should be carried over onto the proper forms just fine. You shouldn't have to worry. If they're not coded properly you should complain to the partner issuing your K-1.
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March 20, 2022
3:56 PM