LLC in question is not ceased, it files final because it became disregarded for tax purposes and now consolidates books with single member; however, assets on 1065 are not used by single member due to changes in operations.
Whatever actually happened with the assets will govern how they are treated on the tax return. If they were thrown away then that would be a sale for zero gross proceeds. If they became the property of the former partner then that would be a distribution.
Whatever actually happened with the assets will govern how they are treated on the tax return. If they were thrown away then that would be a sale for zero gross proceeds. If they became the property of the former partner then that would be a distribution.
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