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Will capital gains from Schedule K-1 be automatically transferred to form 8949?
On Schedule K-1 I have gains from distribution in excess of partner basis. There is $1,738 of short term capital gain and $7,685 in long term capital gain. The K-1 instructions say these are reported on Form 8949, and carry to Schedule D. The K-1 has specific instructions on how to complete Form 8949. How does TurboTax accommodate this? All I can find about Form 8949 is that Turbo Tax automatically completes Form 8949 for gains reported on a 1099-S, but that isn't my situation.
‎April 13, 2025
10:23 AM