K-1 info not updating taxes owed (only have box 19)

[alittletf]

I received some form of shares from a private company I worked for in 2019. After I left, they were bought/merged or something with another company in 2020. in 2021, they sent me a $6800 check for my shares which I agreed too. 

I filled out the K-1 I have which really only has box 16 (K-3) and box 19 with code A for amount of $6800. On the K-3 portion, there is nothing beyond Part I applies. No foreign anything related to this company/transaction. 

When I enter as much as I can from the K-1, TT says I don't owe anything for it. This surely can't be. I tried going to Stock sale in investments but I am forced to enter 1099-B info which I don't have. 

What am I doing wrong? 

[Mike9241]

i assume the k-1 was marked final 

then you need to enter the k-1 uncheck box 16

box 19 goes nowhere.

there is a disposition section for the partnership 

sales price would be 6800

cost (tax basis) - you'll have to determine that.

[alittletf]

well this isn't good because I already filed.  By chance do you know at what point can you amend a return? 

[trusharp]

The amount is returned to as your own capital in that company. So only for reporting, no taxes as it is not reported as income in box 1.

[nexchap]

@alittletf When to amend can depend on how you're tax situation has changed.  Here's a link from the IRS:  https://www.irs.gov/newsroom/what-taxpayers-should-know-about-amending-a-tax-return#:~:text=Taxpayer....

@trusharp This isn't correct.  This K-1 is for the final disposition of the partnership.  The distribution doesn't represent ROC -- it's the final payout.  Tax is owed on the difference between that payout and whatever the basis is.