qbteachmt,  I have been preparing the 1065. My client, a 1/3 partner died late 2023. He left a living trust. So in 2023 there were 3 partners.  The 2 of the 3 original and the living trust. The only asset is the building that will be sold in June 2024 for which the final K1 will be filed.  The living trust did NOT own the building.  The original 3 partners including my deceased client purchased the building many years ago. .  I am not sure the living trust will benefit from a "step up" basis.  I know that the beneficiaries believe that they and the trust will according the title company handling the closing.  I think I should refer the matter to a "tax attorney"?   Does this help?