George4Tacks
Level 15

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!