Skip to main content
Level 2
Jul 10, 2020 9:34 PM UTC
Question

Final Partnership return

With a final K-1, I check the box noted as Final K-1, The partnership was closed and remaining cash distributed.  I then checked the box "Partnership was discontinued in 2019" - it reflects an error in Part II for disposition of Partnership Interest which does not appear to applicable

This topic has been closed for replies.

2 replies

jemcivAuthor
Level 2
Jul 10, 2020 10:03 PM UTC

Treating as a liquidation with zeror basis and sales price

Just-Lisa-Now-
Intuit Community Champion
Jul 10, 2020 10:04 PM UTC
Your client may have basis in the investment that could be used as a capital loss, even if they didn't get anything from the disposition, thats why its prompting you to fill out the disposal info.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪