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akdaddio
New Member

I need clarification of the 2 choices under Describe Partnership Disposal. The partnership ended in 2024 (Complete disposition), but it was not via a sale. What choice?

The partnership ended in 2024. It was a Complete disposition and the Disposition was not via a sale. Which of the 2 choices in TT is the correct one?
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6 Replies
Vanessa A
Expert Alumni

I need clarification of the 2 choices under Describe Partnership Disposal. The partnership ended in 2024 (Complete disposition), but it was not via a sale. What choice?

which choices are you seeing?

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akdaddio
New Member

I need clarification of the 2 choices under Describe Partnership Disposal. The partnership ended in 2024 (Complete disposition), but it was not via a sale. What choice?

 

Below is a screen shot of the 4 options which appear after selecting Partnership Ship ended in 2024. The first and last options do not apply. The 2nd & 3rd are confusing because in my case both could apply: 1) it was a Complete disposal; and 2) the Disposition was not via a sale. I suppose I could select either one, but is there a "correct" choice?

 

Screenshot 2025-04-04 083724.png

Vanessa A
Expert Alumni

I need clarification of the 2 choices under Describe Partnership Disposal. The partnership ended in 2024 (Complete disposition), but it was not via a sale. What choice?

If the partnership just ended and you were actively involved in the business and there was not a like kind exchange involved, then you would select complete disposition.  

 

See the post here by JohnB for definitions of each option.  

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akdaddio
New Member

I need clarification of the 2 choices under Describe Partnership Disposal. The partnership ended in 2024 (Complete disposition), but it was not via a sale. What choice?

👍

akdaddio
New Member

I need clarification of the 2 choices under Describe Partnership Disposal. The partnership ended in 2024 (Complete disposition), but it was not via a sale. What choice?

Still does not answer my question. I assumed it to be understood that I answered all of the questions correctly up to and until Describe Partnership Disposal. (which I am 100% confident I did). The partnership ended in 2024, it was a "Complete disposal" (choice 2) , and the "Disposition was not via a sale" (Choice 3). Is there a correct choice in that instance? Either could apply per the available choices, but only one may be chosen. 

RobertB4444
Expert Alumni

I need clarification of the 2 choices under Describe Partnership Disposal. The partnership ended in 2024 (Complete disposition), but it was not via a sale. What choice?

As @Vanessa A posted above - the "disposition is not via a sale" option is for 1031 exchanges.  Select "Complete Disposition".

 

@akdaddio 

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