OK, I'm not exactly sure if I follow correctly, but for example --
Let's say Section L of my 2021 K-1 shows the following:
current year net income: 500 (this is the long term capital gain listed in part III 9a of K-1)
other increase/decrease: 1200 (this is my initial investment + other gains received in 2018-2020)
withdrawals & distributions: 1700 (addition of above 2 numbers)
Ending capital account: 0
Part III line 19 (Distributions) reads:
A - 1500 (this is the final, and one and only, check that I received for this partnership, in 2021. The land is now sold.)
C - 200
So, if we use the example above, then I should say my Cost Basis is 1000? (1200 - 200 distribution).
Thank you!
