if you arr using an online version of TurboTax you need at least the premier version to enter a k-1
but perhaps you don't need to enter the k-1 at all
X limited partner or other LLC member yes
X domestic partner yes
I1 individual automatic in Turbotax
J profit beginning, a % no
J loss beginning, a % no
schedule L can be skipped in its entirety
L other increase $$$$
L withdrawals and distributions $$$$ (equal to above)
M is No no
Final K1 is X yes
19 is A, with $$$$ (equal to L) NO
additional page Item L
plus: other increases to partners capital
other capital adjustments $$$$
withdrawals and distributions:
Cash distribution $$$$
total withdrawals and distributions $$$$
what we don't know is what the "other increases" were for and whether they have any tax significance
in part III of the k-1 it seems all lines 1 through 18 are blank and thus nothing to report for tax purposes.
did you receive a k-1 in prior years? if not beginning capital (supposed to be your tax basis) in schedule L would be zero. Therefore, the cash distribution would be taxable to the extent you did not have tax basis. Did you get any sort of supplemental schedule to aid in tax preparation? you need to contact the partnership to get clarification. we have no access to the k-1 or your tax return
