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Business & farm
The partnership ended or the trust ended? If you got a final K-1 from the trust then the trust ended, but what about the 1065 (the partnership)? It's not clear; is that also dissolving? You said the partnership has ended. Is that the case. You need to provide more details on what is happening.
If the assets are being transferred to a new entity then they have the same basis as the entity transferring them had.
2 weeks ago