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I received a final K-1 for a REIT that I have held for long term. No 1099 for sale. Minimal distributions received over the years. Do I enter final proceeds and basis on Schedule D?

Forum|Forum|6 years ago
June 1, 2019
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After I input all the final data from the K-1 TT told me I have no gain/loss on sale....this does not seem correct to me

TurboTax Self Employed Online

Best answer by JesseG

Yes, you should enter this K-1. You will want to close out this account with the taxing agencies. This will avoid an future scrutiny with future tax returns.

https://ttlc.intuit.com/replies/3301717

J

JesseGAnswer

Yes, you should enter this K-1. You will want to close out this account with the taxing agencies. This will avoid an future scrutiny with future tax returns.

https://ttlc.intuit.com/replies/3301717