gleight
New Member

Business & farm

Thanks for the response.  A few clarifications:  The partnership agreement allows limited partners to gift/bequeath their interest to their descendants or other partners; and I was the executor and sole heir to my parent's estate.  The other partners and myself all were in agreement that I would "inherit" my parent's interest in the partnership.

Given all that, I still don't know the answer to my original question -- what do I do with their Capital balance at the end of 2021 that did not transfer to 2022?  I appreciate any insight.