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cpahdr
Level 3
Nov 28, 2025 7:08 PM UTC
Question

Final K-1

I have a client who is going to receive a final K-1 with an ending capital account of 100K, The corresponding asset is worhless.

Should I show the partnership dissolution on schedule D as wothless and take a long term capital loss?

1 reply

TaxGuyBill
Nov 29, 2025 2:39 AM UTC

What happened to the asset?  Does the Partnership still own it?  Was it thrown away?  Was it distributed to the Partners?  Something else?

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