billjack
New Member

I entered a K-l with distributions on line 19, but no tax is being generated. I believe i should pay tax on this distributions. what else do i need to do?

 
DDollar
Expert Alumni

Retirement tax questions

Distributions are not taxable.  Taxable income is reported in boxes 1 - 11 and 14.  Distributions are paid out of your "basis".  If the distributions are in excess of your basis, they would taxable.  The basis is 1st increased by the amount of income earned during the year, then it is decreased by any distributions: any excess distribution over the partner's basis is taxable as a capital gain.