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jim5917
Level 3
March 4, 2021
Question

K-1 changed members during year. Who gets K-1s?

  • March 4, 2021
  • 4 replies
  • 6 views

A 25% member sold his partnership interest during the year to a new member. Who gets the K-1? I thought it was the new member on record as of 12/31/2020 but I can't find any literature to support that. Thanks in advance.

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4 replies

abctax55
abctax55
Level 15
March 4, 2021

Both do.

HumanKind... Be Both
    J
    jim5917Author
    Level 3
    March 4, 2021

    ... So the 75% member gets one as usual. How does the seller and buyer of the 25% interest allocate the remaining 25% share?

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