We sold some stock in a company that generated a Final K-1.
I entered the following info into TT:
This is a publicly traded partnership AND This partnership ended in 2024.
I chose: 'Complete disposition' (for how I disposed of this partnership)
I chose: 'Sold Partnership Interest' (for what type of disposition)
Are the above choices correct?
The next section asks for the following info on 'Regular Gain or Loss':
Sale Price: Do I get this number from the brokerage account, as the NET GROSS sale amount of the stock?
Selling Expense: ?
Partnership Basis: ?
Ordinary Gain: ?
1250 Gain: ?
And it asks for the following info on 'AMT Gain or Loss':
Partnership Basis
Ordinary Gain
1250 Gain
I was sent a lot of information along with the K-1, including a 'diagram' on where to put the information of the K-1 onto 8 different forms!! However, this doesn't help me much going through the TT interview.
I hope this is OK -- I am enclosing a couple of photos below - of my K-1, and a 'Sales Schedule' that has a lot of pertinent numbers (I think).
Can someone help me answer the above questions? OR, if you think it's easier to try and follow their directions on filling out the 8 different forms, is that possible to do using the 'Forms' section of Turbotax?
Thank you!
