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M
MDFTAX
Level 3
March 12, 2025

Final Partnership Return

  • March 12, 2025
  • 1 reply
  • 9 views

Dear community, 

I am completing a final partnership return for a company owned by two people. In February 2024 they  assigned it to someone else for $1. Became a single member LLC.

The two partners have also agreed to let the new owner keep the receipts from January 2024 and all assets. Company had no liablity

My question is - do I just put $0 for the receipts, profit/loss and assets in the final partnership return?

 

Thanks in Advance!

1 reply

sjrcpa
sjrcpa
Level 15
March 12, 2025

If the partnership had receipts in January 2024 they need to be reported on the 2024 1065.

 

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