From a tax perspective, am I able to remain in a partnership with 0% profit/loss/capital? In other words, can I be a partner that earns no income, does not claim any losses, and will not earn any capital on future dealings? I will no longer be actively participating in a partnership formed by myself, my mum, and my sister. However, I'm offering to remain on pro bono to help with their accounting. I'm planning to file our Form 1065 with 0% profit/loss/capital for my end of year, but without checking the Final Return box. It's been difficult to find answers surrounding this specific situation and calling the IRS didn't yield any helpful insights other than the suggestion of filling out Form 8822B if I am fully exiting the partnership - but I couldn't get answers to my specific question. Hoping the community can help!
