I sold my percentage of the business to my partner in June - where do I show this?

[ThomasM125]

That would be a sale of an investment. You need to enter the sale proceeds, date acquired, date sold and your cost basis to determine your gain or loss on sale. You can use these menu options to report an investment sale in TurboTax:

1. Income and expenses
2. Stocks, Mutual Funds, Bonds, Other
3. Indicate that you didn't receive a form 1099-B
4. Choose the I'll enter a summary for each sales category option
5. Enter the proceeds, cost basis and holding period as short or long term

[Carl]

@ThomasM125 since @kaijakiwi sold a percentage of a business they had an ownership interest,  why would it be assumed they would not receive a final K-1 for this? They did refer t the other owner as a "partner". So if I were to assume anything, I'd assume it's at least a pertnership that files a 1065 return. But it could be an S-Corp for all we know. The thing is, we don't even know what kind of business this is, and I don't understand how or why it's being assumed no K-1 was issued or would be required to be issued.