IRonMaN
Level 15
03-09-2023
10:27 AM
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A taxable transaction isn't created by transferring schedule C assets into a partnership. Go to the asset entry worksheets and enter a sales date of 6/1/22 but leave the selling price box blank. There is nothing to mark on the schedule C to indicate it is a final return. And as a side note, the assets get transferred to the 1065 at net book value.
Slava Ukraini!