Is there a special tax form when disbanding a club?

MALIKIA GABAY on

If you filed a general partnership some counties require that you file a termination paper which usually is associated with a fee. I think you also have to file a 1065K and check the box final or terminal. You can and should complete the K-1's. Check with each stock to determine the record date for all dividends paying dates then close out during the last month or next month to the last company paying dividends. I recall it was advisable to leave about $100-50 for any adjustments that have to be. Termination fee, mailing etch,

Sent from Surface Pro

From: Phil Mayes
Sent: ‎Friday‎, ‎May‎ ‎30‎, ‎2014 ‎9‎:‎22‎ ‎PM
To: club_cafe@bivio.com

We're disbanding after 17 years. No sympathies needed, we're
all good with it.

Your excellent advice says "The ability to prepare partial
year returns is made available sometime in May" but I don't
see any special procedure to follow. Do I just use the
regular process?

If so, should I NOT generate state taxes, because you say
"We cannot generate partial year returns for the state tax
forms."

Let me take this opportunity to say how awesome Bivio has
been. It has made my life SO much easier. The NAIC software
was a trainwreck. (I speak as a software developer.)

Thanks, Phil Mayes, WINPIC treasurer.

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