Not sure if you prepared your final S corp return or if you were just provided the K-1.
Regardless, the K-1 is not correct. Liquidating distributions do not get reflected on the K-1. The liquidating distribution is to be reported on 1099-DIV in the liquidating distribution box.
Your K-1, and 1065, should be amended. The only thing the K-1 should report is activity related to the winding down of any operations.
The problem with your current K-1, is now the IRS will be looking to match this capital gain which is not correct. In addition, reflecting a capital gain on the K-1 means that you must report this gain and increase your basis. Based on your limited facts, this is not correct.
I don't know what else is on the final K-1, but what should occur is that you update your basis schedule for the applicable lines of the K-1 (not any liquidating distribution) and compare this to your liquidating distribution. If you have basis remaining after subtracting the liquidating distribution, you have a capital loss. If your basis goes below zero, then you have a capital gain to the extent of the negative amount. Which ever it is, this then gets reported on Sch D and the applicable 8949.
I don't know the amount, but I recommend you consult with a tax advisor. It is getting into a difficult time of year for those individuals, so you may want to consider filing an extension to allow time to get this properly handled.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
