Carl
Level 15

Business & farm

Not sure if this helps, or not. Might make things worse. But here goes.

First, since a partnership can not exist with only one owner, that means this partnership is being completely dissolved. So remember that you also have to indicate  your own K-1 is final and that you too are leaving the partnership.

Next, (and I'm not sure on this) whatever you paid the other 8 partners should first be shown as a capital contribution to the partnership, by you. (whatever amount is necessary to get the ending capital account balance to $0, after all partners have been distributed their buyout amount.) Then you pay/distribute each of the other partners their share of that contribution you made to the capital account, for their share of the business that you are buying. I would expect that to show up on line 19 of each K-1 issued to the other 8 ex-partners.

My "train of thought" on this may be diffferent that yours, mainly because I don't know what this partnership business was. So that's why I'm being super-generic here.