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Get your taxes done using TurboTax
distributions aren't taxable unless they reduce your tax basis below zero. however, they do reduce your tax basis it is likely the LLC issued payments in 2021 like maybe on 12/31 which makes them count as received in 2021 though the USPS didn't deliver them til 2022. if they don't result in taxable income due to basis limits, the year is irrelevant.
March 5, 2022
10:37 AM