For the most part, your basis would be what you contributed to the venture, plus any income from the investment that you reported on your tax return, less any losses you deducted on your tax return, less any distributions you received.
You can report the gain or loss as follows:
1. Find the "Income and Expenses" menu option in your TurboTax program
2. Find "Investment Income" in the list of categories
3. Click on "Stocks, Mutual Funds, Bonds and Other"
4. Work through the program to find "Choose the type of Investment you Sold"
5. Choose the "Everything Else" option in the list of investments
6. Enter the information requested about your sale (date sold, sale amount, etc)
The sale amount would be what you received when you disposed of your interest. The cost basis would be your basis as mentioned above.
You can review the following article to learn more about how to calculate your basis in a partnership:
https://taxmap.irs.gov/taxmap2016/pubs/p541-006.htm
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
