If you received a distribution upon the termination of your interest in the partnership that would be the sale price. Any expenses you incurred to receive your distribution would be selling expenses. Your partner basis would be what you originally invested, plus income you were taxed on over the years, less losses, less distributions plus any additional amount you contributed. In other words, your net investment in the venture. You can look at your capital account on your K-1 schedule to help with that.
The sale price minus your basis will be the amount of the distribution that is taxable. It should represent the portion of the distribution that is additional income to you over what your net investment was.
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