George4Tacks
Level 15
01-06-2025
11:39 AM
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I think the partner is selling their interest to the other partners for his Net Basis in the partnership. Look into https://www.thetaxadviser.com/issues/2024/feb/a-look-at-revised-form-8308.html as being a new form to deal with.
The sale will need to be dealt with on the 1040.
Answers are easy. Questions are hard!