K-1 Estimate

[kdilip2000]

There was sale of property and partner has requested extension for K-1

They are provided estimated  numbers as below.  How do take care of this in Turbo Tax to estimate my taxes

Rental Income Loss

1231 Gain

1250 Gain 

[Mike9241]

enter the estimates and mark as such (rick click on amount box).  this will allow yo to calculate if you owe on the extension.  file your own extensions on which you'll show the balance due if any. if you owe you can pay thru Turbo tax for a fee or go to federal and state websites to make payments. make sure the extensions are filed.

when you get the official k-1 you can delete the estimated amounts.   you'll also need to make sure that extensin payments are reflected. 

[kdilip2000]

Thanks for you reply. I am still confused as to where to enter 1231 Gain and 1250 Gain numbers  Does it need to be in Urercaptured Section 1250 Gain Box 9C and Net Section 1231 Gain Box 10 ?  At some point I will have to do 4797 form right?  Thanks again.