I've owned shares in a rental DST for over 3 years. Now the DST sponsor wants to do a 721 transaction to contribute the DST assets into an Operating Partnership and issue OP Units (Operating Partner Units) afterwards. K-1's will be issued instead of 1099's after the721 transaction is complete. My question is: How do I report this in turbo tax? How do I report that I stop using the rental DST and move on to the OP Units? Are there specific forms to use to report this?
