I redeemed 100% of my interest in a partnership which was paid to me via a distribution. I also received a final K-1. The partnership didn't actually sell the underlying assets and I assume it just affected the remaining partners share percentage.
I'm trying to properly record the disposition in TurboTax.
The choices in TT are
- No entry
- Complete disposition
- Disposition was not via a sale
- Sold and am receiving payments.
I tried "Disposition was not via a sale", but then TT doesn't ask for my basis and doesn't check the boxes on Schedule E (Part II)(28)(e) for basis computation even though the instructions on the form state "Note: If you report a loss, receive a distribution, dispose of stock, or receive a loan repayment from an S corporation, you must check the box in column (e) on line 28 and attach the required basis computation.".
The distribution amount I received is on the final K-1 in box 19 with code A and I recorded that in TurboTax.
Any thoughts on the correct way to characterize a disposition via 100% redemption in TurboTax?
