Is the Form 1099 S just your distributive share of the sale?
Does the Form 1099 S have your Social Security Number on it?
I would just report the K-1 data. If you get a letter from IRS about the proceeds set forth on the Form 1099 S, you can point them to the K-1 data showing that you reported your distributive share of the real estate sale.
The title company most likely issued the Form 1099 S because they were concerned about their own liability.
I think the best practice is the Form 1099 S should have been issued to the partnership and then each partner would recognize the sale through the K-1.
