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Get your taxes done using TurboTax
Thanks for your response @JamesG1 .
I just tried adding the Final Schedule K-1 to my tax returns in turbo tax and it shows that I owe additional federal and state taxes. Do you know why would that happen given that the partnership ended in 2020 and all the distributions were taxed as income on W2? I also see that my Final-K1 has 8. Net short-term capital gains (loss)
9a. Net long-term capital gains (loss) reported.
‎April 11, 2021
6:21 PM