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Schedule K-1 Section 1250 Gain characterization
I'm part of a multi-member LLC. The single commercial property it contains was sold in 2019 and the LLC disposed of. I've marked the Partnership as ended in 2019 and 'Disposition was not via a sale'. The property was sold, but that constituted the only sale. Is this correct? I had 'Unrecaptured Section 1250 Gain' due to the depreciation taken over the years on the property, but did this come from 'Disposition of an interest in a partnership'. I'm assuming not? It came from the sale of the partnership's asset.
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‎July 12, 2020
6:27 PM