Can a family partnership transfer shares to another family partner without tax issue

[sjrcpa]

There will most likely be gift tax consequences.

How is the partnership transferring anything? It doesn't own interests in the partnership. Presumably other family members own the interests and they would be making the transfer(s).

[simplicity · Accepted solution]

Thank you for taking time to answer.  The only tax would be gift tax!  One family partner has decreased his percentage and gave to a son.

[sjrcpa]

You're welcome.