woodchelle
Level 1
‎11-23-2020
10:57 AM
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A partner leaves a 2-member partnership. Can the partnership be considered a single member LLC or sole propriertorship for tax purposes? Can the same EIN be retained?
3 Replies 3
abctax55
Level 15
‎11-23-2020
11:40 AM
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Partnership by definition is "more than one"
You have a dissolution of the partnership. AND that final return is due within 2.5 months.... so if it happened earlier this year you may be delinquent.
The new *entity* that exists can be anything it wants to be.
Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.
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IRonMaN
Level 15
‎11-23-2020
11:45 AM
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"The new *entity* that exists can be anything it wants to be"
Except a partnership 😉
Armpit sniffer. Yup, checked out the help wanted ads and found the job. With my nose, how can I go wrong?
abctax55
Level 15
‎11-23-2020
12:06 PM
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OK... ya' busted me on that little detail 😉
Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.
If a post answers your question, click on *Accept as solution* for future searches
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