Business & farm

Just to clarify for others that may read this, a partnership (or an LLC taxed as a partnership) terminates only under option 1 in @Anonymous response.

The second method reflected known as a technical termination was repealed for tax years after December 31, 2017.

 

*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.