"This partnership ended in 2023" on the 'Describe the Partnership' screen.
Then "Complete Disposition" on the following screen.
Note that TT will then ask you questions about the sale. Be careful: there's a bug. If you have a 1099-B for the sale, then on the K-1 sales screen:
- If you don't have any Ordinary Income on the Sales Schedule, enter 0 for everything.
- If you have Ord Income, enter it (one value for 'regular', and an adjusted one for 'AMT'); enter 0 for sales price; enter the inverse of the Ord Income for Basis (e.g., if Ord Income is 30, enter -30 for basis).
This will prevent the K-1 from creating a duplicate of the 1099-B and double-taxing you.
You'll then go to the 1099-B from your broker and adjust the cost basis to match what's calculated on the Sales Schedule.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!