George4Tacks
Level 15

Like a Schedule C, there is  no box to check to say final. If there are depreciable assets, indicate that they have a sale date, but no sales price.

There is a distribution to the partner and you need to very carefully determine how much that is. Is this really a sale of the assets from the Partnership to the Individual? Is the sale at Fair Market Value? Does this bar/restaurant operate in one of the rentals? 

So many questions! So much research to do! Sounds like a very careful extension to file!


Here's wishing you many Happy Returns
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