topic I received a distribution of my equity interest in an LLC. I did not receive a K1 or a 1099 form for this distribution. Where do i record the LT capital gain? in Retirement tax questions

I received a distribution of my equity interest in an LLC. I did not receive a K1 or a 1099 form for this distribution. Where do i record the LT capital gain?

karule — Mon, 09 Mar 2026 04:44:37 GMT

Is this a dividend distribution or is it treated as a partnership distribution? I am unclear where to record it in turbotax

Re: I received a distribution of my equity interest in an LLC. I did not receive a K1 or a 1099 form for this distribution. Where do i record the LT capital gain?

Anonymous_ — Sun, 27 Feb 2022 21:17:36 GMT

Have you computed your basis? Does the distribution exceed your basis?

@Rick19744

Re: I received a distribution of my equity interest in an LLC. I did not receive a K1 or a 1099 form for this distribution. Where do i record the LT capital gain?

Rick19744 — Sun, 27 Feb 2022 22:25:02 GMT

We need more information in order to provide some guidance:

How long have you had your LLC interest?
Have you received any K-1's in the past?
As @Anonymous_ requested, have you maintained your tax basis in this LLC interest?
Would you expect to receive a K-1 this year?
- The LLC return is not due until 3/15 and even then can get an extension
Did the LLC terminate or liquidate?

Re: I received a distribution of my equity interest in an LLC. I did not receive a K1 or a 1099 form for this distribution. Where do i record the LT capital gain?

karule — Sun, 27 Feb 2022 22:27:33 GMT

The distribution definitely exceeds the basis so there is a capital gain event. I am just not clear if this goes in the partnership section of income or if it is part of a dividend distribution or something else - i did not receive a 1099 or a K1 from the employer so it is unclear to me. I appreciate any thoughts or guidance folks have on this question.

Re: I received a distribution of my equity interest in an LLC. I did not receive a K1 or a 1099 form for this distribution. Where do i record the LT capital gain?

karule — Sun, 27 Feb 2022 22:31:22 GMT

These were restricted units in the LLC that vested over a period of 21 months (similar to restricted stock in a public company) and paid out upon my leaving the LLC for another employer. I have never received a K1 in the past. The LLC is still active and operating.

Re: I received a distribution of my equity interest in an LLC. I did not receive a K1 or a 1099 form for this distribution. Where do i record the LT capital gain?

Rick19744 — Mon, 28 Feb 2022 20:58:36 GMT

Without many facts, my best advice would be to treat this similar to owning a stock.

I'm not clear on how you determine your tax basis (cost) if you never received a K-1.
Did you receive a W-2 for any compensation?
- If "yes", was there ever a value placed on the units?
- Was this value included in your W-2?
If you never received a K-1, it doesn't sound as if you were ever truly a member of the LLC
If you have a value for your cost basis, then as noted above, just use this figure as you would any other equity and then your "distribution" would be your selling price.
This information would go on form 8949 and Schedule D

Re: I received a distribution of my equity interest in an LLC. I did not receive a K1 or a 1099 form for this distribution. Where do i record the LT capital gain?

Abbybeth — Sun, 12 Jan 2025 15:31:47 GMT

yes It was from a sale of only asset of a trust. THe proceeds are my portion

Re: I received a distribution of my equity interest in an LLC. I did not receive a K1 or a 1099 f...

MarilynG1 — Mon, 13 Jan 2025 18:44:56 GMT

You can enter the sale of a capital asset without a K-1 or 1099-B.

Go to Income > Investment Income and answer 'Yes' to 'sold capital asset.'

Click this link for more info and screenshot.

@Abbybeth