akeeeb
Level 1
04-18-2020
10:21 PM
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A partner sold its interest in a partnership, and received his final k-1 with positive ending capital?
Should ending capital be zero since the interest is sold?
sjrcpa
Level 15
04-18-2020
10:39 PM
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It should but not all preparers go to the effort to zero out the capital account.
The more I know the more I don’t know.