rohiz
Returning Member

Schedule K-1 (Form 1065) only info is Box 19

Hi - my husband was given equity in his company (LLC) when he was hired in 2014. He received a distribution in 2019 and was issued a K-1, Form 1065. The only information populated in Part III is Box 19: A - Cash and Marketable Securities. When I enter this information in Turbo Tax, my Tax refund/liability doesn't change. It is a sizable distribution with $0 Tax Basis and the Partner Footnotes on the supporting schedule notes that the distribution should be considered a long-term capital gain. Also, at the end of the Wages & Income section, Turbo Tax states there's missing info from my K-1. Suggestions on what to do?