Im confused on how to enter all this in TT. I have a 1099B for the amt recvd in 2018. I expect I will receive a 1099B for the escrowed amount in 2019 (already has been distributed ) . Ive entered the 1099B with 2018 proceeds. How do answer the K-1 questions to report the selling of entire interest in the LLC. After I chose the option for Disposed on entire partnership, the ? are "Complete Dispostion" or "Disposed and receiving payments". Can i chose the 1st option even if portion was distributed in 2019? This is not a PTP. Was a passive partnership. The k-1 form has no values on it except in the footnote section stating the net cash proceeds received in 2018, net cash proceeds received in 2019. Section J has VARIOUS% in all the beginning/ending% columns but TT says this info is not mandatory. Thanks for your help
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get in touch with the partner who handles taxes for the partnership.....something's wrong if they were doing business in 2018.
I dont' understand the response about the company being in business in 2018.
They were in business in 2018. We sold our shares in the company in 2018 and rcvd the proceeds. I believe the reason there was some held in escrow in 2019 had to do with the sale of the company, so they were figuring out the details. I don't know if that matters. just trying to figure out how to enter the info.
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