Thank you @ThomasM125 , this makes sense. Some of the members contributed money over the years for Maintenace and upgrades and I thought I entered that when I entered everyone's ownership percentages, but I cannot get back to that screen. Should the money that was contributed be added to the cost basis as I do not see it reflected anywhere in the tax forms or K-1s? Also, should the allocation be on a profit percentage or ownership percentage? The results appear to be the same no matter which one I pick.
Does it change the way I file if we received a substitute form 1099-S?
Thanks again
