DaveF1006
Expert Alumni

Get your taxes done using TurboTax

If your K-1 is marked as a Final K-1, you would indicate it dissolved this year.  If not, your Final K-1 will be issued and reported next year once all the bills are paid and the partnership is free from all encumbrances. 

 

Your basis looks correct. If you contributed cash or property to become a partner, that should be included too as well as your share of the liabilities for the partnership. 

 

 

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