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Partner Basis---Capital Gain on Excess Distributions

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    Partner Basis---Capital Gain on Excess Distributions

    I am thinking I asked this before, but can't find it in the search. I do believe partner's distribution in excess of basis is taxable, right? How do I report that, I'm looking at Sched D and 8949 and don't see anything like that, can't be that rare. Anyone got experience with that?

    #2
    Originally posted by Super Mom View Post
    I am thinking I asked this before, but can't find it in the search. I do believe partner's distribution in excess of basis is taxable, right? How do I report that, I'm looking at Sched D and 8949 and don't see anything like that, can't be that rare. Anyone got experience with that?
    Nevermind, found the answer, thanks!!!!!!!!

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