I was the manager of an LLC that has now ended. There is no inventory products resources or even initial investment. It never really even started. There was no income or expenses for 2023. I have the final K-1 that was prepared.
On the screen where TT asks to describe the partnership disposal, I selected the option "Disposition was not via a sale".
When I finished and reviews the final forms prior to efiling I noticed that TT marked option 2: "gifted partnership interest"
This seems strange to me. Is this correct? Option 1 looks more accurate. Should I mark complete disposition instead?
if so, I’d assume I’d set sale price to 0. For basis, since there was no purchase into the partnership is that 0 as well?
