hgtc
Level 5

Taxpayer received final K-1 (limited partner) that have negative ending capital balance.  Taxpayer did receive $119 distribution during the year.  But, Partnership was sold and he did not receive any residual from the buyer.

1. do I report $119 as capital gain distribution?  If yes, where to input this?

2. do we need to report ~$3k negative capital as gain?

 

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