Thanks for the reply. Actually it was my bad, I went back again and looked more carefully at all Step by Step categories of extended question areas. It was in the Step by Step, Business Info->About your Business. At the top of long list of items it said
This Partnership is filing it's Final Return because it was closed out by the end of the year. [x] Yes [ ] No
I checked Yes, and it then put an [x] in the box by Final Return on Form K-1.
Also in that same Business Info->About your Business in the heading of->Full Year Final Return, it asked if I closed the business out before the calender year ended. It had a check box by Short Year which I checked Yes. It then asked me for dates of beginning of Final year and Ending of Final year. It then put an [x] in the box by Final Return on Form 1065.
I continued and answered ALL questions in this T.Tax thread, there were quite a few.
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Then just to make sure I searched the IRS and found this,
https://www.irs.gov/businesses/small-businesses-self-employed/closing-a-business
(Paste from above link)
Steps to take to close your business
1. File a final return and related forms (see 1. further down)
2. Take care of your employees
3. Pay tax owe
4. Report payments to contract workers (any 1099 etc)
5. Cancel your EIN and close your IRS business account (see 5. further down.)
6. Keep your records
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1. You must file a final return for the year you close your business.
The type of return you file – and related forms you need – will depend on the type of business you have. A limited liability company (LLC) is a business organized under state law. An LLC may be classified for federal income tax purposes as a partnership, a corporation or an entity disregarded as separate from its owner.
Partnership (LLC) filing requirements:
You must file Form 1065, U.S. Return of Partnership Income, for the year you close your business.
When you file, you must:
Report capital gains and losses on Schedule D (Form 1065).
https://www.irs.gov/forms-pubs/about-form-1065
Schedule D (Form 1065), Capital Gains and Losses
[- We had none of the items applicable so I filled it out with all zeros.
Did this in T.Tax Step by Step Topics-> Capital Gains or Losses.
I just went thru all the questions clicking no or continue. When
asked for $ amounts I entered zero. It added a Schedule D to return -]
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Check the “final return” box on (form 1065) (it’s near the top of the front page of the return, below the name and address) [- did as said at top in T.Tax -]
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Check the “final K-1” box on Schedule K-1 PDF. [- did as said at top in T.Tax -]
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5. Cancel your EIN and close your IRS business account [- Do this awhile after E-filing and closing any bank accts. -]
The employer identification number (EIN) assigned to your business is the permanent federal taxpayer identification number for that business. To cancel your EIN and close your IRS business account, you need to send us a letter that includes:
The complete legal name of the business
The business EIN
The business address
The reason you wish to close the account
If you kept the notice, we sent you when we assigned your EIN, you should enclose a copy of it with your EIN cancellation letter.
Send documents to us at:
Internal Revenue Service
Cincinnati, OH 45999
IRS cannot close your business account until you have filed all necessary returns and paid all taxes owed.
also said needed to fill out Schedule D
