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Negative Liquidating Distribution on K-1
I was a member of an LLC formed in 2022 that dissolved in 2024. I selected Complete Disposition in TT for the partnership disposal. I did not sell my shares and we all lost our initial investments. We never had distributions. My partnership basis from initial investment, additional capital contributions, and the income (loss) from ordinary business was $1,696. On my 2024 K-1, the final liquidating distribution was -$2,696. I am not able to enter a negative sales price from the K-1 Sale Information screen. How do I accurately capture my capital gain/loss?
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March 4, 2025
7:29 PM