Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Feb 25, 2021 7:34:09 AM

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.

0 2 836
2 Replies
Level 15
Feb 25, 2021 7:42:46 AM

Typically they would be reported on Line 19.

Level 1
Feb 28, 2021 5:03:03 AM

Thank You!