You will enter the K-1 and any applicable amounts and make sure you indicate that this is the final K-1. Based on your initial facts, you may not have received a K-1 but you will need to reflect it as a final K-1.
Keep in mind, at some point you may in fact receive a final K-1 and may need to adjust your gain or loss accordingly at that time.
Kind of stunning that a CPA told you how to compute your tax basis and capital loss, but failed to provide assistance on how to include this on your return.
When you enter the information into TT for the K-1, and you indicate it is final, you will be prompted for information related to the disposition. The software will ask for sales proceeds and your basis. Based on your facts, you have this information.
The loss should be reported on Sch D and the applicable form 8949.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
