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Business & farm
As I explained, Box 17 on the K1 shows "STMT", and has a statement attached. The statement lists two Items we sold during 2022. Both Items when purchased used Section 179 deductions. The statement shows date purchased, and date sold. It shows Gross sales price, Cost or basis, amount of sec 179 deduction taken, tax years sold and purchased. .. With all this information shown on the form, I would think Turbo tax would calculate Box 17? But since it doesn't, but provides the statement, I assume I am supposed to calculate the amount using the statement information? I'm sure the there will be an adjusted gain/loss to report in Box 17, or somewhere else?
You replied "If you enter "K" and an amount, later on you will be asked to enter the sales proceeds, cost, date acquired - the information you mention." But Box 17 does not show an amount, only "STMT". Can I expect there will be a place to input the information from the statement somewhere else in Turbo Tax?