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New Member
posted Jun 3, 2019 1:13:29 PM

Should I receive a final K-1 from an LLC (taxed as S-Corp) after selling my membership interest?

I left a multi-member LLC (taxed as S-Corp) in 2017. I assigned and sold my membership interest to remaining members. Members purchased my interest using personal funds, not the LLC's.

Should I receive a final K-1 or any other tax forms?


0 5 1820
5 Replies
Employee Tax Expert
Jun 3, 2019 1:13:30 PM

Yes, you should receive a final K-1. It should show the sale of interest in addition to income/loss while owned. The K-1 should be sent by 3/15.

New Member
Jun 3, 2019 1:13:32 PM

Even if the members used personal funds to purchase my interest?

Employee Tax Expert
Jun 3, 2019 1:13:33 PM

Yes. The interest should be shown as $0

New Member
Jun 3, 2019 1:13:34 PM

Should I expect to receive any other tax forms related to the buyout?

Employee Tax Expert
Jun 3, 2019 1:13:35 PM

No. Report the sale when the K-1 is entered.