I am going to agree with @sjrcpa that the distribution is at FMV at the date of distribution.

Did you press F1 for details on those entry points?  28 is the total and 32 is the specifics for each partner. 

Distributed Marketable Securities Details: Fair market value

Distributions of marketable securities treated as money require the details of each security be shown on the return (Schedules K and K-1). Enter each securities description, the partnership’s adjusted basis immediately before the distribution, and the fair market value of each security distributed for Schedule K reporting.

IMPORTANT:

Each partner’s/member’s share of the distribution, and related supporting details, MUST be entered in the Schedule K-1 Miscellaneous screen to properly complete Schedules K-1. Continue to specially allocated Distributions in Screen 29 for all program calculations.

These entries ONLY affect what prints on Schedule K Supplemental Information.

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Distributed Marketable Securities Details (Partner): Fair market value

Distributions of marketable securities treated as money require the details of each marketable security be shown on the return (Schedules K and K-1). Enter each partner’s share of the marketable security description, the partnership’s adjusted basis immediately before the distribution, and the fair market value of each property distributed for Schedule K-1 reporting.

IMPORTANT:

The total amount of the distribution, and related supporting details, MUST be entered in the Schedule M-2 screen to properly complete Schedule K.

These entries ONLY affect what prints on the partner’s Schedule K-1 Supplemental Information. Continue to specially allocated Distributions in Screen 29 for all program calculations.

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