Partnership ended by going out of business. #1 is this considered a "liquidation"? #2 is this a "complete disposition" or a "'disposition not via sale"?

posted

Connect with an expert

1 Reply

Partnership ended by going out of business. #1 is this considered a "liquidation"? #2 is this a "complete disposition" or a "'disposition not via sale"?

It can actually be any of these, however, if you ceased operations (no sale) and distributed remaining partnership assets to the partners the the best option is "liquidation".

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

Partnership ended by going out of business. #1 is this considered a "liquidation"? #2 is this a "complete disposition" or a "'disposition not via sale"?

Partnership ended by going out of business. #1 is this considered a "liquidation"? #2 is this a "complete disposition" or a "'disposition not via sale"?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

Partnership ended by going out of business. #1 is this considered a "liquidation"? #2 is this a "complete disposition" or a "'disposition not via sale"?

Do you have an Intuit account?

Partnership ended by going out of business. #1 is this considered a "liquidation"? #2 is this a "complete disposition" or a "'disposition not via sale"?

Unlock tailored help options in your account.

Get more help