Business & farm

"If you have a K-1 and a 1099-B for the same items and amounts you have two options.

 

  • Enter the information from the K-1 and do not enter the 1099-B information.
  • Enter the information from the 1099-B and do not enter the K-1 information.

Either of the methods will enter your information without any duplication."

 

 

Can we confirm this is accurate? I just got sent a LP K-1 one week before taxes are due and I am completely lost when attempting to enter in this K-1 info into Turbotax.

 

I did buy and sell these shares in the same tax year, and I see info for all of this on my 1099 that Robinhood sent. Due to the current circumstances, I think I might just stick to the 1099 and not involve this K-1 but I am unsure and lost as to what to do.