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Get your taxes done using TurboTax
I agree with @Anonymous_
Since it appears that you had a two partner partnership and one of the partners left, as a result, you no longer have a partnership.
Your K-1 along with the form 1065 should have been marked as final.
The partnership no longer exists.
You should probably check with your Secretary of State to see if you need to file anything as a result of this change.
Going forward, since there is no partnership, unless you establish another entity, you will file as a sole proprietor. You should have a consult with an attorney to gain an understanding of legal liability issues and how to minimize your exposure.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎January 9, 2023
11:25 AM
507 Views