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Business & farm
Thank you. Yes the LLC did this upon the death of parent who was majority partner, redistributing his portion equally to children. It is the same EIN, and it reports the additional share of capital, income/loss, and distributions after the date of his death. If I add the two K-1s they total the combined share of ownership of the partnership. There is no note of a technical termination. I have forwarded the question to the LLC's accountant, and hope they are handling it right, or will correct it.
‎June 3, 2019
11:46 AM