Turbotax Delux Desktop Federal: Form 4797 Part I says "From K-1" for the Description. But the gain shown doesn't match the 1231 gain on my K-1's. Pl help me understand.

you might have had a 1231 loss carryforward. Only the net carries to the 4797

switch to forms mode and review the k-1 worksheet,

Sorry, getting back to this now, as I need to finish my taxes before my next trip.

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@Mike9241 wrote:

you might have had a 1231 loss carryforward. Only the net carries to the 4797

switch to forms mode and review the k-1 worksheet,

 

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Actually the number on 4797 part 1, $9,859, seems to be the total of allowed losses from all of my k-1's.

Why is that same number shown as a gain on 4797 instead?

I think if you look closely you'll see that whenever you have a useable loss, they show the equivalent amount of gain for it to offset.  That amount of gain is then subtracted off your original gain to get your net gain.  

there should be a page 3 to form 8582 where you should see where the 4797 gain is coming from.