I started my business as an LLC Partnership in MI and have been filing form 1065. My partner is buying me out as of 12/31/2019 midnight. The payment end of the sale will happen in 2020 but he has full ownership control for all of 2020. I already submitted the 1065 for 2019 but didn’t indicate that it was a final filing. Should I amend my 2019 1065 form to indicate that it is the final 1065 for the partnership? If I shouldn’t file an amended return, do I need to file a ‘final’ 1065 for 1/1/2020 and he would file another return for the remaining 364 days of the year?
