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stevepettit72
Level 1

We received withdrawals from our LLC. The K-1 generated shows a Code D on Line 16, which describes the withdrawals as Property Distributions. Is this right?

Withdrawals were all cash.
posted
‎February 25, 2021 7:34 AM
last updated ‎February 25, 2021 7:34 AM
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2 Replies
Anonymous_
Level 15

We received withdrawals from our LLC. The K-1 generated shows a Code D on Line 16, which describes the withdrawals as Property Distributions. Is this right?

Typically they would be reported on Line 19.

‎February 25, 2021 7:42 AM
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stevepettit72
Level 1

We received withdrawals from our LLC. The K-1 generated shows a Code D on Line 16, which describes the withdrawals as Property Distributions. Is this right?

Thank You!

‎February 28, 2021 5:03 AM
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