topic Form 4797 Part II Line 10 Only in Get your taxes done using TurboTax

Form 4797 Part II Line 10 Only

SPWATX — Mon, 17 Feb 2025 01:12:15 GMT

Have abandoned Partnership Loss. How do I NOT have to override to complete Line 10? First attempt and ? Cannot E-file ??

Re: Form 4797 Part II Line 10 Only

PatriciaV — Fri, 21 Feb 2025 00:05:58 GMT

If you need to revise the information for the abandoned partnership, go to the K1P Addl Info 2 worksheet (Schedule K-1 Partnership Additional Information). Part II Disposition of Partnership Interest has entry fields that can be edited in Forms Mode. Fields in yellow with a blue or green font can be changed.

Note that overriding any calculated or linked value in a form or worksheet in TurboTax invalidates your return for e-filing. Return to the form with the override, right click, and choose "Cancel Override."

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Re: Form 4797 Part II Line 10 Only

SPWATX — Fri, 21 Feb 2025 00:49:22 GMT

Thanks I guess I will try this but there is no K-1. Has not been one provided for Two years. Hence I followed the abandonment procedure as recognized by IRS … there is no sale. So no K-1 … and have been told by multiple people to report Ordinary Loss on Lube 10 Part II only . If the above gets it to Line 10 only …then I thank you. If not then I still need an answer.

Re: Form 4797 Part II Line 10 Only

PatriciaV — Mon, 24 Feb 2025 14:29:57 GMT

Even though you didn't receive Schedule K-1, the entry in TurboTax is made on the K-1 worksheet as previously described. This entry will report the abandoned partnership interest to the IRS with an ordinary loss on Form 4797 Line 10.