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C
cpahdr
Level 3
November 28, 2025
Question

Final K-1

  • November 28, 2025
  • 1 reply
  • 5 views

I have a client who is going to receive a final K-1 with an ending capital account of 100K, The corresponding asset is worhless.

Should I show the partnership dissolution on schedule D as wothless and take a long term capital loss?

1 reply

T
TaxGuyBill
Level 15
November 29, 2025

What happened to the asset?  Does the Partnership still own it?  Was it thrown away?  Was it distributed to the Partners?  Something else?

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