Hi All,
My understanding of how to enter all this information is as follows:
-Enter All K-1 information as you normally would.
-When entering the Sale into Turbo Tax, list the "Partnership Basis" as 0, the selling expense as 0, and the Sale Price is the number in Box 7 of the Supplemental Sale info sent in your K-1, this is called "Gains Subject to Recapture as Ordinary income". Leave the Box labelled "1250 Gain" empty.
Does this seem correct?
Thanks for your help!
JS
