IRonMaN
Level 15
07-30-2025
09:51 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You don't mention when the partner left. If it was at year end, you would prepare a final 1065 with the income or loss split as was done in the past. If he left during the year, you would prepare the 1065 for the period that he was there, with the regular split of income or loss between partners. The remaining partner would then prepare a schedule C for the remaining portion of the year.
Slava Ukraini!