I have a couple of follow-up questions:
- Did you receive a final K-1 as this was a liquidating distribution?
- Is this a PTP or just a private partnership?
- Was there some type of division of the partnership?
- Is your client an individual or a business?
- Just trying to understand some basic details here
- Has an outside basis schedule been maintained?
*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.
