I sold my business and dissolved my CA-based LLC. I would like file my final tax return but still have a 30 year term EIDL SBA loan that I could not pay off. It is collaterized (against business assets i sold and do not own) but without personal guarantee attached to it. I'm continuing making my monthly payment of $791($249k balance) with my personal funds. My tax guy says i need to pay it all off before i can file final return.......30 more years of reutnes for a business i no longer have?? what options do have on K1(?), etc?
