I am converting a Partnership to an S-Corp in 2023. I am marking "final" on the 1065 for 2022. My k1 is asking how I disposed of the business. Since it is a conversion I didn't sell, gift, or liquidate the business. What option do I select for a conversion?
Is the sale price $0 since it is a conversion?
Is my cost basis how much I put into the company at startup?
The conversion is still pending in 2023 but does the 2022 needs to be marked "final" or should I wait until the conversion is FINAL in 2023 to file the 1065 as "final" on the 2023 tax return?
