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Sale of Partnership - 1250 gain and Capital Gain counted twice in software
One of my partnerships sold a building (only asset in partnership) and liquidated last year. There was a capital gain from this event. The gain is also a 1250 gain. When using the software, it records both gains and adds them together. There was no 1250 depreciation used last year, so the only gain should be one or the other. What is the best way to avoid duplicate gains in the software without changing the K1 entries?
‎July 8, 2023
5:51 AM