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J
JackW
Level 3
January 29, 2021
Question

investment partnership

  • January 29, 2021
  • 1 reply
  • 23 views

An investment partnership makes a distribution of marketable securities.  What information do I need to include on the partner's K-1?  Do I need to code it on the K-1 or is it considered supplemental information?  It is not a liquidating distribution.

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1 reply

George4Tacks
George4Tacks
Level 15
January 30, 2021

It is a distribution, just like cash, but with a value of basis of the shares as the distribution.  I would suggest a supplemental statement of the shares distributed and the basis of those shares. 

Answers are easy. Questions are hard!
    sjrcpa
    sjrcpa
    Level 15
    January 30, 2021

    I think the distribution is done at FMV, but the partner's basis in these shares is the partnership's basis.

    The more I know the more I don’t know.
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