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Business & farm
The partnership doesn't pay taxes even on the final 1065 form ... the gains are passed thru to the partners on a K-1 form issued to each partner. So the rate of cap gains or depreciation recapture will depend on the tax situation of each partner.
If you don't know how to complete a final partnership return on a short tax year I highly recommend seeking local professional assistance.
‎July 28, 2021
2:27 PM