Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 08-03-2015, 12:14 PM
Junior Member
 
Join Date: Aug 2015
Posts: 1
K-1 help please

I was a 20% partner in an LLP for years. In 2014 I sold all interest in that LLP. It is not a PTP. Do I have to list the money I was bought out with separately on my return? I received a K-1 showing the sale information. It shows:

Beginning capitol account: 58,946
Capitol contributed: 0
Current year increase/decrease: 0
Withdrawls & distributions: (58,946)
Ending capitol account: 0

all boxes 1-20 are empty except 19, it shows: C* STMT

on the statement it shows:

Transfer of Captiol Adjusted basis: 58,946 Fair market value: (blank)


I have always prided myself in filing my own returns but this has me confused this year.

thanks for any help



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.