form 4797 from K-1

confused123 — Mon, 06 Apr 2020 18:57:12 GMT

Where do i enter info in K-1 portion of TT to generate form 4797?

Re: form 4797 from K-1

ThomasM125 — Mon, 06 Apr 2020 19:17:23 GMT

Form 4797 is used to report the sale of business assets. Normally, it is generated while working in the self-employed business section of TurboTax, to report the sale of an asset used in a business.

If there were sales of business assets reported on your K-1 schedule for a partnership, you would have an entry in box 10. You just need to indicate that you have an entry in box 10 on your K-1 entry in TurboTax and answer the question in the program to have it reported properly on your tax return.

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form 4797 from K-1

Re: form 4797 from K-1