My K1, which is for a Real Estate Partnership my father left me 40 years ago, states my Capital is 4.25%, but my P/L is 1.6198%. The GP now wants to buy me out and states my ownership is 1.6198%. Not my Capital of 4.25% as stated on my K1 this year.
Can you let me know how this might be right?
Thanks,
DogWick
