Schedule K-1 (Form 1065) Entries

[tack-SingJoy]

I redeemed a portion of my shares in an LLC in 2020 but the box in Part II Section J is not checked. On the screen entitled Describe the Partnership, do I need to check the box got Disposed of a portion of my interest in partnership during 2020?

[M-MTax]

The box "Check if decrease is due to sale or exchange of partnership interest" will be checked if you sold or exchanged all or part of your partnership interest to a new or pre-existing partner during this tax year, regardless of whether you recognized gain or loss on the transaction(s). You may have realized a gain or loss on the transfer or disposition of your interest. See codes AB, AC, and AD on line 20 for items that have special gain or loss treatment.

[tack-SingJoy]

Thank you that is helpful. I do not have the AB, AC or AD codes listed on line 20.