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Business & farm
So not sure when you spoke with Florida and when they indicated the change was effective.
Even if it is not effective 1/1/2021 I would file a final federal 1065; just know there may be some exposure depending on the response to my initial comment in this post.
Make sure you mark the return final along with the K-1's.
Make sure you reflect the liquidating distributions.
Make sure you understand the tax basis of any assets distributed. There are specific rules in determining the basis of assets distributed.
*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.
Also keep in mind the date of replies, as tax law changes.
March 9, 2021
3:50 PM