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- Re: K-1 not issued due to no activity
K-1 not issued due to no activity
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ahanchin
Level 1
07-09-2020
10:12 AM
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For a general partnership, there was no activity in 2019 and CPA will not be issuing a K-1.
Next year they will dissolve the partnership and issue a final K-1 that may have a small distribution.
Do I have to enter anything in proconnect to show the partnership is still active, but no K-1 for 2019? I don't want to delete the K-1 since there will be a final next year.
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TaxGuyBill
Level 15
07-09-2020
10:44 AM
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If you want to want to keep the K-1 information, just keep it as $0 in all boxes.
But I wonder if a Partnership return does need to be filed. Was the CPA that does the Partnership return paid in 2019 (for the 2018 return)? If so, that is an expense, and therefore a Partnership return is required.
