nexchap - great response, but that response leads me to another question. My interest in the LLC partnership was long-term (>1 year), so I assume long term capital gains on the K-1. Once I received the shares in my brokerage account, I sold within a few months (<1 year), so I assume short term capital gain? Practically speaking, I owned the same asset (3,810 shares of a company stock) for more than 3-years. However, from a legal/tax perspective b/c I owned the shares via an LLC partnership initially and then directly when the partnership ended, its treated as two different assets?
