I'm not sure if this is the right place to ask this, or even the right way to think about the situation. I posted this in the Tax forum, so sorry for the cross-post.
Situation: I have a minority stake in an LLC with one other partner. The business was formed in 2014. It has consistently operated at a profit, but only by my business partner paying himself as little as possible. I have not taken distributions from the business, but have recognized the income and paid taxes on it each of the last 4 years. Now the time has come for me to exit the business, and I'm wondering how those previously-taxed distributions impact my tax burden going forward if I accept a smaller (or non-existent) cash buyout.
To give some context, the total of the distributions would be around $20k, with probably another $5k for 2018.