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Final K-1, Negative ending capital account
The LLC - taxed as a partnership - that I was invested in ended operations and dissolved in 2020. My final K-1 shows a negative capital account. My understanding is - and perhaps it's wrong - is that this negative number should show up on Sched D (perhaps via another form) as a capital gain. If that is true, how do I get TT to make that entry?
Thanks.
‎August 23, 2021
5:52 PM