Support CenterHow do I enter a sale on Form 8949 for a 1065 return in ?
🔍 How do I enter a sale on Form 8949 for a 1065 return in ?
This guide explains how to enter a sale using Federal Form 8949 and how the information flows through Schedule D and Schedule K-1 for a 1065 return.
⚠️ Before You Begin
You will need:
- Access to Federal Government Form 8949 - Sales and Other Dispositions of Capital Assets
- The applicable sale information to enter in the Federal Information section
📊 Step-by-Step Guide
Step 1: Open Form 8949
Use this when you need to enter the sale details.
Go to Federal Government Form 8949 - Sales and Other Dispositions of Capital Assets.
Step 2: Select the Input tab
Use this to begin entering the sale information.
Click Input (tab).
Step 3: Enter the sale information
Use this to provide all required details for the sale.
In the Federal Information section, enter all applicable information.
Step 4: Confirm how the gain or (loss) flows
Use this to understand where your entries will appear next.
The gain or (loss) on page 1, column (h), then flows to Schedule D.
Step 5: Review Schedule D reporting
Use this to verify the short-term and long-term totals.
On Schedule D, the Net short-term capital gain or (loss) is reported on line 7 and the Net long-term gain or (loss) is reported on Line 15.
Step 6: Confirm totals flow to Schedule K-1
Use this to ensure the partnership totals are passed through correctly.
The totals from lines 7 and 15, then flow to the Schedule K-1, line 9a or 11.
Step 7: Provide Schedule K-1 to the taxpayer
Use this to complete the process for the partner’s personal return.
The Schedule K-1 is then provided to the tax payer to report on their 1040 return.
💡 Additional Reference
For more information on sales entered on Form 8949 and how to report them, see IRS Form 1065 Instructions.
📞 Still Need Help?
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