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Transfer of public partnership to revocable trust - now two K-1's but no sale
I transferred a public partnership from an individual account to a revocable trust - both use the same SSN. It was not a sale but a "transfer out" without proceeds. I received two k-1's - one showing the ending units as zero and one for the trust showing beginning units. Turbo Tax offers some options on sale or dissolution, but none seem to fit this type of transfer. How do I handle this in turbo tax?
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‎April 3, 2023
6:05 AM