My spouse was a limited partner in a family limited partnership that ended in 2018. Assets were distributed pro rata to the partners as securities. Is this taxable?

[pendelikon]

TurboTax asks for purchase and sale date, sale price, and basis. I can determine sale price based on the distribution amount listed on the K-1, but not sure about the basis. Maybe it doesn't matter too much since the assets were transferred to us in-kind (although I think there was some minimal selling to make things even)?

[CarolynM]

Yes, it is taxable.

I would ask whoever prepared the K-1 if they have cost basis information. The partnership should have the cost basis records.