How you receive the payments for the interest does not matter, especially if you sold the interest for the amount of your basis and therefore do not have a gain or loss. You still need the Schedule K-1 for 2022, which are required to receive because you did own an interest in the business during 2022, in order to correctly report your transaction.
@cliffwinegar
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
