Where do I enter the sale of a piece of real estate owned by the family LLC?
The LLC got $200K which was evenly distributed between each of the 7 members of the LLC.
It doesn't seem to work out on the 'Ordinary Business Income' line of 1065. If I enter the distributions as well as the income, It seems to screws up the K-1 calculations.
And it doesn't really work in Rental Income.
Do I need an additional form?
Any advice?
