I am still working on my taxes (before the overseas extension deadline comes) and have received several K-1's from partnerships.I am using Taxslayer to file my taxes and it give me the option to carry over gains/losses to a Schedule D or Form 4797. I ran the software with both options and the refund amount was the same. What are other impacts of choosing the Schedule D or the Form 4797?The impact is whether you prepare your return correcrly or you do not. You don't have a choice as to where the gains/losses are carried, there is only one correct answer for each situation. The information you need should have been provided to you in the K-1 packet you received. Ira
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