K-1 Dividend & Interest listed on K-1
On our K-1 it lists dividends and interest which must be recorded on 1040 8 & 9
This figure is different from the distribution and (is actually though slightly, more than the distribution received) which is then subtracted from the basis.
I called Codi tax info and was told that the interest and dividend are pass through from the company.
Do I understand correctly that the dividends and interest (again more than the distribution received) are taxable at their rates and in addition the distribution must be subtracted from my basis when I sell it?
This looks to me as though I am being taxed at double the distribution.
I would appreciate any help from message board I can get
Thanks