I have a K-1 from a partnership showing a Sec 1231 loss on line 10.
This is for input to a Form 1041.
The best I have come up with is to use a Form 4797 (which is not part of my Form 1041 software) and which gives the instruction only to report on 1040 line 14.
And report it on line 8 of Form 1041 -
Or do I need to even use Form 4797 - can I just describe it on Line 8
"Net Section 1231 loss from K-1"
Thanks
This is for input to a Form 1041.
The best I have come up with is to use a Form 4797 (which is not part of my Form 1041 software) and which gives the instruction only to report on 1040 line 14.
And report it on line 8 of Form 1041 -
Or do I need to even use Form 4797 - can I just describe it on Line 8
"Net Section 1231 loss from K-1"
Thanks