Thanks for a serious reply. I have deleted my Scottrade entry for BBEP....that was easy. But just to be clear, when you say to adjust the sales basis/schedule, are you referring to info imported on the K-1 from BBEP? I made only a few hundred dollars on the sale of a portion of my BBEP position. Thanks.
The sales schedule is not imported. You are not done with your K-1 - the import doesn't do everything.
Look at the SALES SCHEDULE (a separate page to the other boxes). At the bottom you will see a number for basis adjustment (make sure to note whether positive or negative) as well as ordinary income amount.
Then you enter the sale into Turbotax by selecting the interview option 'This partnership ended in 2011'. A screen will be opened up which allows you to enter your sale information including the basis adjustment and the ordinary income amount from the K-1 sales schedule. The result will populate schedule D as well as form 4797.
Again, this is not done by the TT import so you need to go through the interview.