Bought a share in an LLC in March 2015. I sold that share for the same price in January 2018. I got my final K-1 and can't figure out what to do in TT. I clicked on "Sold Partnership Interest" and entered the Purchase and Sale dates. The next screen is where I get confused. I entered "Sale Price" and not sure of what to do with the rest. I'm assuming "Selling Expense" is related to the cost of selling my share (I had no expenses, unless this means what I paid for it). "Partnership Basis" - not sure if this means section L beginning capital account or ending capital account. Ordinary Gain?? 1250 Gain?? On my K-1 in section L "Other" is checked and box 19 says C* STMT and a statement follows showing the adjusted basis which is the same number as Beginning Capital Account and Withdrawals & Distributions in L and the Fair Market Value price I was paid for my share (same as I paid initially). Any guidance would be much appreicated!!
