In 2019 my company was purchased by a private equity group. I was given class B shares at that time. We filed these with the IRS with a $0 dollar purchase price. In 2021 we were again purchased and the class B shares were paid out and were taxed at the time of distribution at a 20% rate (roughly $388,000). When I am preparing and entering the information from the K-1 & K-3 it shows that I owe close to $75,000 in federal tax and $15,000 in state tax. Is this correct that I get taxed twice on the capital gains?
