How should I be taxed on the sale of my shares of a business partnership?

I recently sold my half of a LLC-Partnership. The business is paying me over 5 years the equivalent to one year of my work. What is the best way for me to declare this "income" to the IRS when the money barely makes up for my lost income during the four years I spent starting the company? In this instance an new partner stepped in at 40%, and the original partner at 60%. The business is paying me from its accounts, and reducing part of the new partners pay until I am compensated. I'm suspect that I will get a 1099, but I don't think this is right since I haven't worked there at all last year. Help!