Question

I had a full withdrawal from my investment club partnership. In addition to my k-1 I also received a withdrawal report. Do I need to file anything other than the k-1?

Forum|Forum|5 years ago
March 20, 2021
1 reply
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The withdrawal was all stock except for $3. I did not sell any of the stocks but transferred them to my personal stock account.

TurboTax Premier Online

A

AnnetteB6

No, for your 2020 tax return you will only need to enter your K-1 information. It will report any income or deductions attributed to your share of the investment club for the period of time you were a member during 2020.

Keep the withdrawal report with your tax records so you will have it in the event that you decide to sell some of the stock that was transferred to your personal account.

Take a look at the following TurboTax article for information about entering your K-1: Where do I enter a K-1 that I received?

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