Sale of Partnership

Forum|Forum|8 days ago
September 25, 2026
5 replies
57 views

The partnership was sold 3/8/25. The new owner retain the ein and name. how do I get the old partners income and expense to flow to a k1

ProSeries Professional

Kathi_at_Intuit

Moderator

Hi @Lou1428 thanks for stopping by the Community and for posting about how to get the old partner’s income and expenses to flow to a K-1. If you are still having an issue with this, we’d recommend reaching out to ProSeries Support for help.

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sjrcpa

Level 15

All partners sold to one new owner, thereby terminating the partnership?

The more I know the more I don’t know.

Accountant-Man

Level 13

{Why did my answer disappear?}

My thoughts exactly; if there is only one remaining owner then the p’ship is terminated as of 3/8/25.

If there are still more than one owners, then go to the Change in Ownership worksheet, enter zero % for the formers as of 3/8/25, and the 100% as of that date through year end is split amongst the remaining PARTNERS.

** I am "Elevating with Intention!"

T

Terry53029

Intuit Community Champion

You must file a Short-Year Final Return covering the period from January 1, 2025 through March 8, 2025, and mark return final. At top of 1065 mark year 1/1/25 - 3/8/25. I assume you filed 1065 for 2024

BobKamman

Level 15

And then obtain a new EIN for the new partnership (because there has been a 100% change in ownership).

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