Where do the amounts for Form 4797 Part II, line 10 (Ordinary Gains and Losses) come from on the K-1s I receive? They add up to a fairly large amount and I'm not sure where they are coming from on the K-1s that I get and if they're correct. Thanks for your help.
usually on the disposition of a partnership interest, there's section 751 income to be reported. this is not included on the k-1. it is reported in a supplemental schedule accompanying the k-1 and is entered in the disposition details for the partnership. also, the amounts can come from the sale of business assets held 1 year or less. another source from the k-1's would be from line 11i that you entered on line 2 of the subschedule for 11i items.
usually on the disposition of a partnership interest, there's section 751 income to be reported. this is not included on the k-1. it is reported in a supplemental schedule accompanying the k-1 and is entered in the disposition details for the partnership. also, the amounts can come from the sale of business assets held 1 year or less. another source from the k-1's would be from line 11i that you entered on line 2 of the subschedule for 11i items.