Do I Need to file form 7217

[MPJ60]

I received a K-1 as a limited partner in an LLC, which had an amount and code C in line 19, Distributions.

This was a a sale of a portion of stock I received when joining the company. Turbo Tax Premier edition is telling me I need to file a form 7217.  The distribution consisted only of money-  do I need to file a form 7217?

Thank you

[MaryK4]

Yes, you would be required to file the 7217.  Form 7217 is filed by any partner receiving a distribution of property from a partnership in a non-liquidating or liquidating distribution to report the basis of the distributed property, including any basis adjustment to the property.