Unable To Indicate K-1 Partnership Disposition Was Listed On A 1099-B
If you have a K-1 Partnership Disposition of Interest that was reported on a Form 1099-B, there is currently no way to indicate in the program that it was reported on a Form 1099-B.
This is a two step process.
Fist edit the K-1.
Then re-enter the Information as a 1099-B to correctly report the information on Form 8949 and your Schedule D.
To Edit Your K-1
- Revisit the K-1 interview, and enter "Zero" for your basis and sale price on the "Enter Sales Prices" screen.
To Enter as a 1099-B
- Next, visit the Stocks, Mutual Funds, Bonds, Other section
- Continue, until you get to the Investment sales Summary
- Select "Add Another Investment Sale"
- Select "Enter on a Spreadsheet"
- Enter you information about your Publicly Traded Partnership Disposition
- Make sure you answer the question, Reported on a 1099-B Statement?
- "Select A"