This is quite a complicated issue because of the many tax implications that may arise in such an event. Ending the partnership is akin to dissolution and a final K-1 would have to be prepared and the shares of the assets distributed to the parties with likely additional tax implications. As you can see it can get really messy and you may want to consult with a tax professional for help.
Here's a resource to consult for help even though it doesn't exactly match your situation:
Solved: My business was an LLC partnership for half of the ...
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