@DianeW777
Thank you very much for answering.
A little background: We received the K-1 buying and selling stocks (ETF's)
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"It depends. If you have the sale of the partnership already accounted for and the income from the K-1 for the year then you have reported both parts of your K-1 (income and sale)."
I'm sorry I'm a little confused which part of my question this answer is referring to?
"...sale of the partnership already accounted for"
I assume the answer is yes since everything was sold last year
"..... and the income for the K-1 for the year"
Yes I believe this is reported in Part II (partners info) subsection L current year net income (loss)
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"Yes. This would mean that you no longer have any investment, and you have total disposed of this activity."
Would this mean on TT for this Question:
Describe Partnership Disposal:
-No entry
-Complete disposition
-Disposition was not via a sale
-Sold and am receiving payments
I would choose "Complete disposition" or "Disposition was not via a sale" because I'm reading conflicting
responses.
