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alaniboris
Returning Member

K1's Non-Portfolio Capital Gain Input from a Sale of Partnership Interest

I sold my full interest of a non-publicly traded partnership so there was no Sales Schedule provided.  I am not sure how to input the information for this sale....

 

What amount do I use for proceeds (#19 Distribution had no amount -- we were told that the redemption value was the Ending Capital Account amount as shown on the K-1.  The K-1 isn't marked FINAL)

 

How do I enter the detail of the Line 11S (Non-Portfolio Capital Gain Detail) which breaks down the Short-term and Long-term capital gain amounts)  Do I have to manually these amounts on on Form 8949?

This step also caused the doubling up of amounts because of what I have entered in the Sale section of the K-1....so I am so "lost"!!!

Please help me to exit this "purgatory" of K-1.  Thanks very much!

 

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1 Reply
RobertB4444
Expert Alumni

K1's Non-Portfolio Capital Gain Input from a Sale of Partnership Interest

If the sale section of the K-1 has all of the information regarding your sale of the investment then there is no need to enter anything else.  

 

What is more worrying is that the K-1 isn't marked as final.  You might want to ask questions about that.

 

@alaniboris 

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