I need to delete the k-1 for a partner who withdrew from the partnership in 2018. How do I do this?

Forum|Forum|6 years ago
December 7, 2019
2 replies
26 views

He actually withdrew from the partnership at the end of 2017... thus, his information is in the program and I'm not sure how to get it off.

ProSeries Professional

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Best answer by sjrcpa

If he was a partner at any time in 2018 he gets a K-1 for his proportionate share of income for the period of his ownership.

taxiowa

Level 8

You move the last partner on the list to the spot occupied by the lovely departed partner. Remember to carry all basis info to the last partners new position of the list. Then update % owned and delete last partner. You should do this before you access any state module. Because at least Iowa does not like new partners in separate place if you go to Iowa first.

sjrcpaAnswer

Level 15

If he was a partner at any time in 2018 he gets a K-1 for his proportionate share of income for the period of his ownership.

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

M

Marc-TaxMan

Level 7

but for the following year, deleting a Partner is weird. You cannot delete the Partner Wkst as ALL partners are listed there. so you have to delete every entry in that former Partner's section; and have a gap forever after.

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