Steps in Turbotax Deluxe to report a PTP sale correctly for the Sales Worksheet and K-1

[taxquestions44]

Your example was very helpful.  What worried me is that I have ordinary gain and capital loss in the same transaction.  Is that okay?

[nexchap]

@taxquestions44 Definitely OK.  Happens frequently. 

[taxquestions44]

I am continuing this thread for 2023 taxes.  I sold all ET shares (all 3 partnerships).  Again, I filled in the boxes as above with the negative value of the ordinary gain in the Partnership Basis box, and I entered a sale price of 0. 

Is there some place in Turbo Tax (TT) where the Partner Basis is being tracked over the years?  The Partner's instructions for Schedule K-1 has a worksheet for Adjusting the Basis of a Partner's Interest in the Partnership.  I've been thinking that TT is keeping track and carrying information forward each year.  Am I wrong and/or is this final sale going to be calculated appropriately by TT?

[nexchap]

@taxquestions44 You handled the K-1 interview correctly, but will still need to adjust your cost on the 1099-B your broker provided.  You'll use the Sales Schedule to figure out your correct basis, and use that.  Note that TT does not track basis, and won't help you if you've let basis drop below 0 (which is when different tax rules kick in).