Question 1: Given that I have no values in Boxes 9a and 9c in Part III of K-1, how do I account for the income from disguised sale (the split values in item a. above)? Should I assume those values to have been in Boxes 9a & 9c? If not, how to handle?
TT and even professional software would have no way to enter such info except to use those boxes on the TT k-1. what's confusing is the parentheses and then the "-" sign. i have to assume they're really positive numbers since there can't be negative 1250 gain
Question 2: Should I ignore the value in Box 19 and not fill it as such in Turbo Tax questionnaire about various boxes in K-1? If not, how else to account for this scenario?
there are many fields on a K-1 that go nowhere in TT and even pro software. This is one of them. they'll be no harm if you do not enter box 19 info
Question 3: Can you please clarify how to account for filling the various fields in Turbo Tax related to partial sale of interest in the LLC partnership? Ex. Sale Price (which is usually 0 for full sale in relation to Final K-1); etc.
there should be no need for any other entries in TT for this disguised sale. if there were it would be in the supplemental info
