K-1, sold all the holdings of one stock.

[JoanLee12]

Sold all the shares of one stock.  In “tell us about your sale”, it should be “sold partnership interest” or “liquidated partnership interest”?

[Anonymous_ · Accepted solution]

You sold the interest.

[Mike9241]

you probably held an interest in a publicly traded partnership or master limited partnership. if you id Part 1 box D will be checked. if this is the case, you should not use the 1099-B because it does not reflect your correct tax basis. you should have been provided with a supplemental sales schedule that would show, or allow you to compute, your true adjusted tax basis and any ordinary income from the sale. 

[JoanLee12]

Thank you very much. 

Yes, I am PTP, also a domestic partner and limited partner.  No build in gain/loss (II/M).  Sold all the shares of the stock.

At “partner’s capital acct analysis”, “beginning capital acct”, “current yr net income”, and “withdraw and distribution” have numbers.  Have a  “2021 sales schedule”, with depositary units and dates. 

At “describe partnership disposal”, should it be “complete disposition” or “sold and am receiving payments”? 

If chose “complete disposition”, to answer “tell us about your sale”, should it be “sold partnership interest” or “liquidated partnership interest”?  (This is my original question).  Either selection led to questions of “Regular gain or loss” and “AMT gain or loss”: “sale price”, “selling expense”, etc.  

Where to enter the information from the supplemental sales schedule?  Thanks.