tammie
Level 4
11-03-2021
09:05 AM
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Client's partnership K-1 shows $580,000 section 1250 gain on sale of property. I enter this on the K-1 in the client's 1040 and nothing changes on the 1040--where is this amount going or is there more that I need to do to get it to show up somewhere? Any advise will be appreciated.
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sjrcpa
Level 15
11-03-2021
10:08 AM
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It is part of the Schedule D tax calculation and may make no difference in your client's situation - depending on income level and amount of capital gain and qualified dividend income.
The more I know the more I don’t know.
