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larrycpa1000
Level 1
January 30, 2021
Question

accounting entries for sale of partnership interest

  • January 30, 2021
  • 1 reply
  • 3 views

Partner sells partnership interest representing 50% of a partnership that owns only real estate that has some accumulated depreciation.  Does the real estate and  accumulated depreciation get adjusted??

 

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1 reply

sjrcpa
sjrcpa
Level 15
January 30, 2021

Who did he sell to? Partnership or outside party or one of the other partners?

The more I know the more I don’t know.
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