Hi All,
I have a situation where I had invested $20K in a real estate investment partnership. The type of corporate structure was a nevada LLC. The managing partner of the LLC has since absconded with all the relevant records and doesn't return phone calls. He did however send out 2006 K-1 that show zero profit and loss, because there was no distributions. However, over period of 3 years, the investment has resulted in a loss of $8K, the partnership was dissolved and partner's remaining equity has been distributed. So to cut the long story short, there are no statements with the final accounting or K-1's for 2007 sent out. Since the partnership dissolved, the managing partner has ceased to be responsive to demands for final accounting/K-1's. What options do we as partners have?. Thanks for suggestions.
Montage