partnership sale of condo property

[DRagan]

I have two clients who sold their condo they held in a partnership. they had a business return prepared and now have a schedule K1 from that. Now i need to prepare their personal tax returns. they are splitting the profits from this sale 50/50. What form should i use for each of them to report this gain? prepare another K1 for each or a schedule E? not sure with this one.

Any help would be appreciated.

Thank you

Duane Ragan

Finest Income Tax Service

[IRonMaN]

I'm a little confused.  If the property was in a partnership and a K-1 was generated from that partnership, isn't the gain already reflected on the K-1?