Let's hold on a moment. Let's get some more facts here.
1) An LLC was formed. Is this a single member LLC?
2) If 1 is "yes" who owns the single member LLC?
3) Are you saying you (personally) are now going from GP to LP?
4) If 3 is "yes" how has the allocation worked in all these years?
5) Give me some details on ownership; GP and each individual LP / currently and what it should be.
6) Respond to TGB's question on your activity for the partnership
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
