nnaseer
Level 1
04-11-2023
11:26 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
There are four partners in the partnership who own profit & loss/capital/ownership equally. They started the partnership in the beginning of 2022. In Sep of 2022, they all sold their partnership interest to another individual for some loss or same amount of loss. I am wondering how to report this transaction. I have spent a lot of time and still could not figure it out.
Appreciate the solution please.
Labels
qbteachmt
Level 15
04-12-2023
12:04 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
"In Sep of 2022, they all sold their partnership interest to another individual for some loss or same amount of loss."
That doesn't affect the entity, unless you only have one owner now.
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
