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I would love to give you 5 cheers for this answer. I never would have thought of that, but yes, the current two partners weren't partners when this sale/transfer took place. So, the first paragraph that you wrote makes sense to me now.
I still haven't received the sale documents. I assume they will send it on Monday as they are usually quick to respond during their normal business hours.
There aren't any receivables listed on the 2020 Partnership return
I have no idea how the two prior partners recorded the sale during 2020 on their personal return. As they aren't clients of mine. But, does this mean that that they don't receive K-1s or a 1099 for 2021?
I don't know yet how it is listed in the sale agreement. But the old partners were paid $60,960. They were thinking they were receiving 1099s, which is why i made my original post yesterday