I am preparing a Form 1065. One of the partners sold his entire interest to another individual in 2022. The partner that sold his interest had his K-1 marked final so that it would not carry forward. Everything was ok for 2022.
For 2023, the existing partners information was entered and all partner ownership interest added up to 100% on the input screen. However, when going to the forms, no K-1 was generated for the new partner. A Form K-1 was generated for the old partner (listed as partner 2 - no name or identifying information) with no allocation of income, etc.
I have gone through the troubleshooting steps and there doesn't appear to be any overrides, etc. that are causing the new partner's Form K-1 to be suppressed.
The new partner's information does not appear on partner's allocation worksheet, capital account reconciliation, etc. although the information is on the input screen 8.
Has anyone encountered this situation where partner information is input but no K-1 is being generated?
Thanks
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.