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Question regarding Final K-1 Limited partnership

We received our Final K-1 for a limited partnership that we had invested money in a few years ago. It was a real estate partnership, and the land was sold in 2021, so the partnership no longer exists. When entering the information into TurboTax, I selected "This partnership ended in 2021." The next page asks:

Choose how you disposed of this partnership/LLC.

 

Do I choose:

- Complete disposition

- Disposition was not via a sale

- Sold and am receiving payments

 

I am assuming I should choose "Complete disposition"? We already received our final payments for this partnership and will not receive any more.

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1 Reply
Esther M
Employee Tax Expert

Question regarding Final K-1 Limited partnership

You'll choose Complete Disposition.

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