Question
Unsure how to answer question on section 1250 gain when entering a K1
I am a partner in a private real estate fund which issues a K1. Last year the partnership sold some properties. The K1 provided shows in box 9c some unrecaptured section 1250 gain. I assume from the sale of properties. Turbotax asks me the following question.
Enter Section 1250 Gain Detail
- Amount from estate Trust, REIT or Mutual fund
-Amount from Disposition of Partnership interest
Do I enter the 1250 gain here. I didn't dispose of my partnership interest - the partnership did however dispose of property it owned. Not clear from estate REIT etc.
Just not clear how to answer this question.
Enter Section 1250 Gain Detail
- Amount from estate Trust, REIT or Mutual fund
-Amount from Disposition of Partnership interest
Do I enter the 1250 gain here. I didn't dispose of my partnership interest - the partnership did however dispose of property it owned. Not clear from estate REIT etc.
Just not clear how to answer this question.
