Retirement tax questions

Hi @DavidS127,

 

What you said about the Form 1065 K-1 being just a distribution from a partnership is my wife's situation.

-She was granted an interest in the partnership so her tax basis is 0.

-Her Form 1065 K-1 shows a distribution in Box 19 Code A only.

-I think I finally manage to get TurboTax to treat it as capital gains by selecting "Stocks, Mutual Funds, Bonds, Other" -> Other and reporting as a Investment Sales with 0 basis.  I had to play around with the acquired date so that it was more than 1 year before the actual distribution date to have TurboTax treat it as long term capital gains.

 

I've been researching this for over a day now and this what most TurboTax experts recommend on how to report this K-1 distribution.  Is playing around with the acquired date the right thing to do in TurboBox or is there a better way?