Hi,
I invested in some partnership LLC that have rental properties in various states. In this case initial investment was in 2014 and the properties were sold in Texas in 2020 and I received the Schedule K-1.
I am not sure if I only need to enter the K-1 information or if there is additional information (not sure on what form) that will show my initial investment (cost basis of the investment) and offset the gains from the sale.
Any help is appreciated.
Thanks
