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Updated almost 6 years ago on . Most recent reply presented by

Account Closed
  • Investor
  • Milwaukee, WI
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K1, Box 10, Net Section 1231 Gain - Where Do I Report This???

Account Closed
  • Investor
  • Milwaukee, WI
Posted

I'm going in circles trying to figure out where I report my K1, Box 10, Net Section 1231 Gain on my personal return. Partner instructions say I report it on form 4797, except that is where the number came from in the first place!!! Argh!!!!!

Burn it! Burn all of it! We need a new tax code! Figgin going in circles all day!!! I'm not stupid, and this stuff has me pulling my hair out.

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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
Replied

@Account Closed

Are you trying to prepare your personal taxes by hand?!? 

Tax software will carry it from K-1 to where it belongs. 

  • Michael Plaks
  • Loading replies...