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lkinter
New Member

I have invested in a LLC Partnership that had a technical termination. I reported each k-1 separately on my return. Is that all I need to do to report this transaction?

 
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Rick19744
Level 12

I have invested in a LLC Partnership that had a technical termination. I reported each k-1 separately on my return. Is that all I need to do to report this transaction?

Yes.  

Except next year you will want to eliminate one of the K-1 input forms since you will only receive one K-1 in 2017 (assuming there is not another technical termination).

*A reminder that posts in a forum such as this do not constitute tax advice.*

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1 Reply
Rick19744
Level 12

I have invested in a LLC Partnership that had a technical termination. I reported each k-1 separately on my return. Is that all I need to do to report this transaction?

Yes.  

Except next year you will want to eliminate one of the K-1 input forms since you will only receive one K-1 in 2017 (assuming there is not another technical termination).

*A reminder that posts in a forum such as this do not constitute tax advice.*

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