RobertB4444
Expert Alumni

Business & farm

@rmclemor When a partnership changes ownership then the IRS aggregates the percentages over the year. 

 

So, if you start with three partners at the beginning of the year and change to two partners halfway through the year then the percentage of ownership does not just flip to 50%.  In that particular case the ownership percentage would show as 41.8% for each of the partners who stayed and 16.4% for the partner who left mid-year.  

 

Check the date that you set for the ownership change and make sure that it doesn't change during the tax year affecting your percentages.

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