Received a K-1 following the dissolution of the partnership, it allocates ordinary business income to me, when there was no distribution. How can I fix or dispute?

[M-MTax]

You can't fix or dispute it if the allocation was in line with the partnership agreement......the ordinary business income is taxable to you whether you receive a distribution or not.

[Mike9241]

contact the partnership.  we can't see the k-1 nor do we know your tax basis. if the k-1 is not changed, you'll have to report the income or else explain the reason to the IRS when you get a notice from them. (not getting a distribution is not a valid excuse) that income adds to your tax basis. so now you have a total disposition (a capital gain or loss) sales price apparently $0 tax basis - you'll have to figure that out unless the partnership provided you with tax basis info.