Hi there, I worked for an LLC and got Private Stock options beginning in 2007, received some more in 2012 and stopped working there in 2014 but just kept it. Every year I have been filing a K1 which usually doesn't land me with any tax liability as the distributions were far and few between. This past year in 2021 they sold a portion of the company and all Stock members received very large distributions, including me. Box 9a on form 1065 shows my long term capital gain being a high amount reflecting the distribution, while 19a and 19c show my actual distributions. I am being taxed heavily on this(around 18 percent it looks like), which I'm glad I didn't go on a huge spending spree! Does this sound correct that this distribution due to sale of company is taxable? I did file an 83b election back in 2007 with IRS.
