2 k-1s for the same stock. One is the final k-1, the other is new. I did not sell the stock just transfer the stoke to a new brokage. Turbo tax want me to me check that I have disposed of it .

Forum|Forum|3 years ago
April 3, 2023
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TurboTax Home & Biz Windows

Mike9241

you really didn't own a stock you owned an interest in a publicly traded partnership (part 1 BOX D on K-1 checked)

From a cover letter of a PTP

We rely on purchase and sale information obtained from the brokers and transfer agent to prepare the tax information reported to you. If the informationprovided by the brokers or transfer agent is incorrect, the information reported to you, as well as the information reported to the Internal RevenueService, will also be incorrect. If the information is inaccurate, please contact us as explained on the form. We will issue a corrected Schedule K-1, State Schedule, Transaction Schedule, and Sales Schedule, if applicable, as soon as possible. This report is intended to be a general guide to reporting the activity based on our understanding of existing tax laws and regulations. It is not intended to provide tax advice, which we cannot do. Therefore, before you file your income tax return, we recommend you consult a tax advisor. If you have any questions concerning your Schedule K-1 or this report, please contact Tax Package Support at 1-844-275-9875 during
the hours of 8:00 a.m. to 5:00 p.m., Monday through Friday, Central Time.

if the original k-1 contains a sales schedule then the reporting for the year will be wrong as well as info provided when you eventually sell.

PatriciaV

Employee

Please clarify if the information on the two Schedules K-1 is the same. Is either one marked "Amended K-1"? Do either show a beginning and/or ending date? And is the box checked in Part 1 Line D?

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RJ NAuthor

Thanks for your reply. I have 2 stocks with 2 K-1's each. Part I, Line D is checked on all. They each have one K-1 mark Final K-1. They both have a Sales Schedule with sale date. The Sales Schedule to be reported on Form 8949. This where I have concerns. There is no walk though in Tubotax, so do I enter the info on the form manually, and how is the best way to do this.

JohnB5677

We'd love to help you complete your tax return but need more information. Can you please clarify your question?

There is real confusion about what you have.

You keep referring to a stock with a K-1.
A stock does not issue a K-1. A business or Partnership will.
In the top right corner, it will say Schedule K-1. What is the Form number below that?
Below that [Box A] it will have an employer identification number. Do any of these numbers match?
With each of the two similar K-1's (one labeled Final K-1) Do they have the same numbers in all of the boxes?
In the top left, is the ending date the same as when you transferred brokerage accounts?

If you can respond to these questions, it will help us to understand your circumstance.

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