I am trying to enter information from the sale of units in a partnership.
According to https://www.freetaxusa.com/forms-federal you support “Partnership or S corporation income (Schedule K-1)” form 1065 and you also support federal forms 4797, and 8949. On the same page at the bottom under "Items not Supported", I don’t see anything listed about not supporting a partnership sale.
On the Business Income/Partnership Income (K-1) workflow, it asks the question “Did the partnership end or did you sell all of your interest in it during 2023.”
What does or what should this question do?
If I answer yes or no I cannot see that it changes the workflow or asks about income from the sale. I have a partnership sales schedule showing a sales proceed amount with instructions to report it on form 8949 column D and an amount described as “gain subject to recapture as ordinary income” with instructions that this gain should be reported on form 4797 part II line 10, and form 8949 column G. I see these forms included in the federal draft output, but of course these amounts are not shown because I cannot find where to enter them.
When answering yes to the question “Did the partnership end or did you sell all of your interest in it during 2023” where do you enter information regarding the sale?
