i'm not sure if part L of the k-1 will populate. if it does the problem will be that it will show the gain on the line for income, the amount distributed on the line for withdrawals and distributions. since distributions will be in excess of gains you all could end up with negative capital accounts unless the cost of the property transfers to beginning capital. but it needed it should be possible to enter it. the real issue is getting the cost basis from the donor.
