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K1, Box 10, Net Section 1231 Gain - Where Do I Report This???
I'm going in circles trying to figure out where I report my K1, Box 10, Net Section 1231 Gain on my personal return. Partner instructions say I report it on form 4797, except that is where the number came from in the first place!!! Argh!!!!!
Burn it! Burn all of it! We need a new tax code! Figgin going in circles all day!!! I'm not stupid, and this stuff has me pulling my hair out.
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Michael Plaks
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
Pro Member
#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
@Account Closed
Are you trying to prepare your personal taxes by hand?!?
Tax software will carry it from K-1 to where it belongs.