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Investors & landlords
The partnership needs an EIN starting with the sale which really was not a sale as others have mentioned and you need to get that number ASAP so the partnership return for 2020 can be filed by 3/15/21 ... you also need to set up the books correctly to reflect the transfer of a property and the inflow of cash to the partnership. The ill fated sale also needs to be addressed on your personal return since you have a 1099-S issued. Seek local professional assistance sooner than later.
‎January 7, 2021
4:16 PM