Question
where to enter K-1 Capital Gain real esate
I am trying to enter K-1 in TT but got a little confuse. I invest over 2 yrs, it sold the property and completely dispose it. so i get roughly 5K capital gain
This is the note from K-1
GAIN ATTRIBUTABLE TO THE SECTION 751 PROPERTY (ORDINARY) 345.
GAIN ATTRIBUTABLE TO CAPITAL GAIN 5,461.
When I enter on TT, I enter final K-1 and it asks me how it was disposed. If I say complete disposition, a complete liquidation.
it ask me for ordinary gain and 1250 gain. Which i don't know what to answer.
is orginary gain is 345 and 1250 gain is 5,461.
Thank for your help
