Question
Partnership - Distribution of rental property to the partners
I have a partnership that has 2 partners. They have taken the rental property out of the partnership as a distribution. How do I remove the rental property without creating a sale in Proseries professional? Do I create the the sale and zero out the gain or loss? Has anyone done this?
Partnership property distribution create a zero gain or loss when it is taken out of the partnership. I just trying to figure this out.
