Your K-1 should report your share of the gain from the sale of the properties in Texas. Based on what you've described, the only thing that was sold was some of the properties owned by the LLC. You would still own your interest in the LLC. The sale of the Texas properties would be a taxable event, that will flow through from the K-1 to your tax return. If the LLC distributed some or all of your share of the proceeds from the sale, then that would reduce your basis in the LLC. In this case, the only thing you would need to enter is your K-1.
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