I do not know how to input data from my k-1
The distributions listed in box 19 do not change my taxes due.
The K-1 notes indicate a 704(C) gain, but I do not know where to enter that in Turbo Tax (Should be reflected on Schedule D)
The K-1 notes indicate a 1245 recapture amount but I do not know were to enter that in Turbo Tax (should end up on the 4794 form)
Any suggestions
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Distributions aren't going to change any taxes due. 704(c) should show on line 20 of your K1.
Thanks
The accountant who prepared the K-1 showed a distribution but not 704 c gain.
Part of the distribution was a long-term gain, part was a 1245 recapture
So far, I understand they are taxed at different rates but I do not know how to get them into the Turbo Tax forms
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