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I have both long term and short term capital gains on a K-1, how do I break these out?

 
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3 Replies

I have both long term and short term capital gains on a K-1, how do I break these out?

isn't it already identified on the K-1 on lines 3 and 4a? 

 

TT will know how to treat these numbers and put them in the correct place on the tax return.

 

is that what you are asking? 

 

 

 

I have both long term and short term capital gains on a K-1, how do I break these out?

TT asks for purchase and sale dates.  I enter 'various'.  It never asks me to enter the various dates.   Then it lumps the entire gain/loss into Short term.  

I have both long term and short term capital gains on a K-1, how do I break these out?

I am confused.  if you have a K-1, the information is already separated. 

 

All you have to do is enter the K-1 into Turbo Tax and the software will do the rest.   Under "business items" there is a place to enter the K-1. 

 

Are you trying to enter the LT and ST gains directly into Schedule D?  that is not how you do this.

 

 

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