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ProSeries TaxExperience: 24 years
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Ok. This answers my question. The partner that kept the business wanted to assume all profits of the business. The partner that left was on 12/12/24.
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The one partner will keep the company and it will become a schedule C filing. This partner is assuming all liabilities and keeping all assets.The partner that l...
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I have a small partnership. One partner just left. No buy out or anything. Can the remaining partner choose to claim all the profit at end of year to not alloca...
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Great. Thank you. I had wondered this. Thank you for this information!
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The "buyer" assumed all liabilities which were for only a small portion of the assets but took over everything.The shareholder is keeping the land and the build...
