I guess let me clarify...
I receive a K1 from a partnership. The partnership paid out cash distributions for the year 2019. Do I simply enter all the information from the K1 and my tax impact will be adjusted accordingly in turbo tax? I believe the total cash I received for 2019 is reflected on line 19 with code A. Also reflected in section L with my tax basis figured. So is this all I need to do in order to figure out what tax I owe on the cash distributions, or do I have to report that elsewhere on my personal income?
Thanks!
