Just so you're aware, things are clouding over for me now. So is it leaving a small positive tax basis on the partnership? Or on the K-1's? I don't know how to handle that, but perhaps that statement will help you figure it out and understand it. (I certainly don't at this point).
Remember, since the partnership is dissolving,up to 8/9 (and possibly all of it) of what gets distributed to you (and only you) is what you are removing from the partnership for personal use. Any excess cash up to the total amount you contributed over the life of the partnership would be a return of capital investment to you.
@Hal_Al I'm flying blind now and the landing gear is jammed. Help?
