see this link
https://www.businesswire.com/news/home/20220506005525/en/Cypress-Environmental-Partners-Announces-Pr...
from the thread
Given the amount of Cypress’ outstanding senior secured debt, which currently totals $58.1 million, Cypress continues to expect that the Reorganization Transaction will result in its outstanding common units (“Common Units”) and Series A preferred units (including accrued and unpaid distributions) having no value.
so basically they went belly up and were delisted.
thus, you have a capital loss for tax purpose equal to the sales price less your tax basis. I would use the 2021 ending capital per the k-1. since the "k-1" for 2022 was all zeroes.
I would take the position there is no ordinary income recapture on the basis the assets were not worth more than book value.
