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K-1: Received distribution for my interest in rental properties which was transferred to remaining partners. Do I report a cap gain from the distribution? If so, how?
The LLC remains in existence, but I am no longer a partner. My K-1 showed on part III item 19 my distribution amount from the transfer of houses but no capital gain for the transfer. The distribution was greater than what I paid for the houses.
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‎April 8, 2023
9:04 AM