For various reasons we are cashing out of our investment
club. This was all doen before the end of the tax year so we
have final schedule K-1 and 1065's. My question has to do
with how the disposition of cash (all our stock was sold
prior to closing) is entered from the K-1's onto the
individual 1040. For arguments sake, lets say that we had
-200 in short term loss and -400 in long term loss but a
distribution of 500 dollars (line 22 of K-1). Is the
distribution reported as income separately on 1065
somewhere? Going through the various instructions I don't
see where this would get entered into any of the tax forms.
Any help would be appreciated!

Thanks,
Martin