Ok, that is helpful.
First, did you sell all or part of this in 2020? When did you buy it? (Was it bought and sold all in 2020 or did you own it for more than one tax year?)
Re: Box 11 code C, that amount, as described in the investment's k-1 FAQ's is (for reasons not worth going into) capital gain income to you. Even though may not have received any cash distributions. It is considered 40% short term and 60% long term. You should see those amounts on your Schedule D, line 4C and 11D.
Your basis in the partnership is increased by this amount because you are taxed on it.
Re: Box 13. This is a deduction. When you enter the box 13 info how did you describe what the expenses were? They may or may not be deductible depending upon what they are.
I think but am not certain that your basis is usually decreased by the 13W amounts. This seems right for deductions but also seems to be the case for non-deductible items. This is complicated and you should probably seek professional advice, especially if the amounts are not small. See https://www.irs.gov/pub/irs-pdf/p541.pdf page 10 under decreases: "The partner's basis is decreased (but never below zero) by the following items ... The partner's distributive share of nondeductible partnership expenses that are not
capital expenditures."
I am a bit confused when you say line L is a number. L is a calculation of your current basis. It might or might not be tax basis. Basically it shows what your basis was at the beginning of the year, how much you contributed to the partnership (+ basis), how much income you received (+ basis), how much cash/property you received (- basis) and how much basis you have at the end of the year. In the year of sale the ending capital account should be zero.
When you sell and tell TT that it will obviously ask you for your proceeds and your adjusted basis. Then it will tax you on the gain (or loss).
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