What do the numbers on a schedule K-1 for Limited Partnerships mean?

[jaysabisan]

How does it work for selling your your stake in the partnership? In this case it is a publicly traded partnership. I'm specifically looking for answers to the numbers in box N on a K-1. ------

[rockinpacker]

What tax form will I get if I invest in a partnership?If you have invested in a partnership, its management should send you IRS Form 1065, Schedule K-1. This tells you what your share of the partnership’s income, credits, deductions and tax-preference items is. Don’t attach Form 1065 Schedule K-1 to your income tax returns; instead, keep it for your records.Are limited partnerships publicly traded or privately held?There are two basic types of limited partnerships: direct participation programs (DPPs) and master limited partnerships (MLPs.)Direct participation programs are private limited partnerships where the units can’t be traded very easily. This kind of investment is designed to be held long term until the partnership terminates -- after 10 to 15 years or longer.Master limited partnerships, on the other hand, are partnerships that are publicly traded. Shares in these partnerships are traded on the New York Stock Exchange and other exchanges. As a result, they are more liquid than DPPs but less liquid than conventional publicly traded securities. ------

[safexiaoyi]

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