Where do I report the sale of my partnership interest?

[bound4h]

I own 5% in an LLC.  I have received K-1s each year.  In 2016, I sold my 5% share to one of the existing members.  How in TurboTax should I report this?  I tried to report it as an investment sale but was forced to select No on the question of whether I received a 1099-B.  

In reviewing the Forms, it correctly put it on Schedule D, but I'm still thinking it should go elsewhere in TurboTax so as to not create the erroneous other worksheets associated with selling traditional investments.

Should I be entering this info in a different section?

Thanks!

[MichaelL1 · Accepted solution]

You can do it they way you did it already, as it does end up in the Sch D area and there is no 1099B issued.

The way it most commonly reported is in the K-1 area.

There is a question early on in the K-1 area, titled: "Describe this Partnership" and the 4th one down needs to be checked, "Disposed of a portion of my interest in partnership during 2016"

Then the next screen will be titled, "Tell Us About the Sale"

I have seen it both ways, as long as it is reported and you have the sales price and the basis entered correctly is the main thing. 

[candmboyte]

what if the partnership interest sale was already reported on 1099B?