@cchu01 Correct. In the K-1 section, you do not want any Cap Gain. Note that if you have Ordinary Gain reported on the K-1, you have to fill out the sale questions like this:
- Enter $0 for Sale Price
- Enter Ordinary Gain in the "Regular" and "AMT" columns
- Enter the inverse of the Ordinary Gain (e.g., -100 if Ord Gain is 100) in the Partnership Basis columns.
If done correctly, the next screen (Review Investment Gain or Loss) will show "zero" everywhere and then you can go to the 1099-B to report your Cap Gain/Loss
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
