partnership disolved

BETH B JACKSON on

We have disolved our partnership and I'm not sure how to
report this on my tax return. It seems like it will be on
Schedule D, as sale of investment property. Is that correct?

Rip West on

Beth,

You should have received a k-1 from your partnership for 2009 and a statement for your withdrawal. On the statement of withdrawal, you will see the tax/loss that should be reported on your individual schedule D as gain/loss on disposal of partnership interest.

Rip West
Saint Paul, MN

iras1 on

Not exactly. You will report the capital gain/loss shown on your withdrawal report on Schedule D. You should still receive a final K-1 from the club. Amounts on the K-1 are reported in their usual locations.

Ira Smilovitz

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In a message dated 02/13/10 16:26:02 Eastern Standard Time, jtj483@bivio.com writes:

We have disolved our partnership and I'm not sure how to
report this on my tax return. It seems like it will be on
Schedule D, as sale of investment property. Is that correct?

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