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Terminating a Partnership

TP82
Level 3

I have a client who was in a partnership with his wife for many years and it consisted of several rental properties.  The partnership was already set up when I started preparing their taxes and they had created an LLC and they filed a 1065 each year with K-1's for each of them.  His wife passed away in 2020 and he removed her from the LLC and we filed a final 1065 but what else does he need to do with the IRS and state of Indiana - does he just file a 1040 with Schedule E's or what?

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sjrcpa
Level 15

"does he just file a 1040 with Schedule E's"

Yes


ex-AllStar

View solution in original post

2 Replies 2
sjrcpa
Level 15

"does he just file a 1040 with Schedule E's"

Yes


ex-AllStar

View solution in original post

TP82
Level 3

Great, thanks.  I didn't know if there were any other filings that needed to be done.

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