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Business & farm
The information is ambiguous.
Do you mean you are preparing the 1065 for the partnership and you, as a former partner, are issuing yourself a K-1 or that you received a K-1 (which should be a final K-1) that is reporting capital gain? Either way, if you sold your entire interest, you need to know your outside basis which, hopefully, you have been tracking.
‎August 7, 2019
1:15 PM