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Deductions & credits
Hey Mike9241, thanks for taking the time to assist.
We (the partnership) ceased operations in the summer of 2019, but by year end I did not have my ducks in a row so that I could do a final tax return.
Then in May of 2020 the one partner decided to give it another go, so at that point it was technically changed to a single member llc (in principle).
My dilemma now may very well require a pro, but I thought maybe there was a simple way to just switch from filing with inventory to filing and choosing no inventory.
‎January 13, 2021
2:33 PM