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Hi All, need some advice on best way to handle the a clients situation.
New client (soon to be ex-wife) does not and will not talk to ex. They own 2 residential rental properties with each property in it's own LLC with both spouses as 50/50 partners. 1065's have supposedly been file through 2019 (I have requested copies of both 1065's and I'm still waiting). In February 2020 (she thinks - again waiting on lawyers paperwork) they agreed that they would take 1 property/LLC each and the name of the other person removed from the other property as part of the divorce. She has no books or accounting for either property (just handed me bank statements for "her" property).
For 2020: I think they would have to file 1065's for the month of January and get a k-1 from both LLC's then just put the Feb-Dec on her 1040 schedule E? She claims no access to the other property info, is sure he is not filing and has no idea what he is doing. Once I get a confirmation on the property date could I just treat the entire year on a schedule E (telling her she is double counting his half of 1 month and we could have to amend if he ever files to pick up 1/2 of the other LLC Jan income)?
Any thoughts / advice would be appreciated. Thanks.