You'll want to make sure your actual gain/loss is correctly reported on the 1099-B provided by the broker.
For the K-1, you'd want to check off both. Partnership ending signals to TT that you won't be getting any future K-1s (so it won't prompt you next year) and releases any suspended losses (which I'm guessing in your case are $0). "Sold Portion...." will trigger the Sales Schedule, which you probably won't need since you're just going to enter 0 for sales and 0 for basis (since you're reporting the gain on the 1099-B) but its technically true and definitely works so checking the box can't hurt.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
