I agree with you that  the distribution of the marketable security from an investment partnership is  just like cash, but with a value of basis of the shares as the distribution. .  I also  included a supplemental statement of the shares distributed and the basis of those shares on the K-1 plus the fact that these shares are considered long term.

I am a bit confused as how to enter this on lacerte.  Do I need the supplemental statement for the K-1 and also the following.

I looked at Form 1065, Screen 32.1, Distributions, Distributed Marketable Securities.  That section includes "Enter Total Distribution Details".  Do I need to enter any information on this screen?

See also screen 28, Distributions. This is the place that I entered the total marketable security distributions for Sch M-2.  When I click on   "Enter Total Distribution Details", it takes me to screen 32.1.  

Thanks so much.