3337450
Do I need 4 K1s as follows?
1 to enter part III of the main info (1st page
and 3 for each entities in the supplemental K1 (ET, USAC, SUN)
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Also Did I enter box 20 correctly?
By the way I sold all my shares last year because of the headache at tax time.
On "describe how you disposed this partnership/LLC", What does "No Entry" option mean? Do I pick that or "Complete disposition"
I sold all shares last year through my brokerage account
Another question: Should it be treated as part of a combined business? I have small side gig and report self employment income.
No. These are two separate business interests. Besides, you do not report an entry in Box 14 of a K-1 in a Schedule C because your share of the profit and loss is reported in Box 14. If it is a profit, you will be assessed a self-employment tax.
You would report this as a liquidation of partnership interest if that choice appears before you, if working in the desktop version of Turbo Tax. If online, pick Disposed of a portion of my interest in partnership during 2023.
Your Box 20 entries look good especially the ZZ details.
Anyhow, enjoy the remainder of your year.
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