@Rick19744and any other with expertize,
I received a Final K1 (different from the one that I already asked about). I have the basis caculated. I have a few additional questions about enterering the K1 data into Turbotax.
First, this was just a simple deal where we sold the single apartment building owned by the parternship. I assume this would be considered a "sale" not a "liquidation." Correct?
Second, line 9c shows an Unrecaptured Section 250 Gain of 10,211. I've duly entered this in the appropriate field for line 9c. However, when I'm entereing the information for the sale, I get this screen:
Should I enter the 10,211 figure from the K1 line 9c in the box above in the picture that asks for 1250 Gain?
Similarly, later in the software flow, I get the following two screens:
The K1 doesn't explicily describe the 1250 gain as coming from a disposition of an interest in a parternship. So wondering if I should put yes or no on the screen asking that question and -- if yes -- then put the same 10,211 figure in the field asking about the amount from a disposition in a partnership interest. Thanks for any assitance you can provide,
