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Investors & landlords
When you entered the K-1, there's a section called "Describe the Partnership" where you should have checked "This partnership ended" (assuming this was a complete disposition). That will bring up questions in the K-1 interview about the sale. That's where you need to enter 0s. Everything else you did sounds correct.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎April 9, 2024
7:51 PM