@Asia527 You're understanding is correct, though there's no reason 19A needs to match the total of 5 and 6.
Typically Section L of the K-1 shows the reconciliation of any changes in your 'Capital Account'. Capital Account is not quite the same as basis, but for the purposes of understanding how your basis is changing its pretty close.
- 'Capital contributed' is any purchases you made
- 'Current year net income (loss)' is going to match all the ups and downs that come from the K-1 boxes (excluding 19A). You should be able to reconcile that each year.
- 'Withdrawals and distributions' will be any actual cash distributions you got plus the basis of any shares you sold. I highlight the basis because it won't be the amount you received for the shares -- just the cost basis.
As to the forced redemption, you'd have to go back to the K-1 preparer or a tax professional to understand how that's being accounted for and where it goes on the tax return.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
