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September 28, 2022
Question

Question regarding Final K-1 Limited partnership

  • September 28, 2022
  • 1 reply
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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.

    1 reply

    September 28, 2022

    You'll choose Complete Disposition.

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