Schedule K-1 for partnerships reports distributions to the partners
in box 19A.
Since you have to report your share of the partnership income or
loss for the tax year
whether or not the income is distributed to you in the same year, the amount of
your distribution is not usually reported on your tax return for the year it is distributed.
You do need to keep records of amount contributed and
distributed to at some point be able to determine if you have a gain or loss on
disposition of your partnership interest or
when you have already reported losses that are more than your investment in the
partnership. This is similar to keeping track of your stock basis for gain or
loss computations.
Since you have already reported the income from the partnership
on other income lines you do not need to report the
amount of distributions on your 1040 (and would be double reporting if you did).
