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Investors & landlords
you provided no details. To correctly report any gain or loss on termination, you need to know your tax basis.
if schedule L is completed for the year of termination the beginning capital, for practical purposes, would be your tax basis at the start of the year. (to simplify liabilities are being ignored)
add
capital contributed during the year
current year income if there's a net profit otherwise
subtract
current year net loss
if there's anything on the line other increases (decreases) line, a determination would have to be made if it affect your tax basis
the total/net is your basis before withdrawals/distributions. for this number don't look at schedule L most of the time it's a plug so the ending capital is zero. rather look at line 19
hopefully 19A = your basis.