I've read several posts on this and still a bit confused - mostly around TT not handling K-1s very effectively. The K-1 interview "Enter Sales Information" screen seems to indicate that TT will handle reporting correctly without the need to enter the sale(s) via a 1099-B. Some posts seem to indicate that entering a 1099-B with an adjusted cost basis is also required (and will avoid duplicate reporting) in addition to the K-1 interview. I bought and sold all shares of a publicly traded MLP in 2022.
Via the K-1 interview - "Enter Sales Information" screen, I entered the following:
Sales Price: $X (as total proceeds from sale(s) found on my Brokerage statement)
Partnership Basis: $Y (as reported in the K-1 Sales Schedule as "Cost Basis")
Ordinary Gain: $Z (as reported in the K-1 Sales Schedule as "...Recapture as Ordinary Gain)
Do I also need to enter a separate 1099-B for this sale?
Thank you so much!
