Hi There:
I agree that in order to mitigate penalties that you should estimate partnership income and file a tax return by the due date, and then amend as necessary. Below is a good link to offer your partner incentive to release the K-1. In addition you should refer to the partnership agreement to determine if you are still liable for ongoing partnership liabilities. However, I mention this as incidental advice offered by an accountant. You should contact a lawyer for specific advice.
Partner K-1
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