A partnership recently sold their property. They want to finish their 2012 partnership return and have it be the last one. They also would like to not write checks from the Partnership after 2012. Well, there is bound to be one or two anyway; my final fee, for example. How can this be handled? Have the tax matters partner pay personally and get paid back by the other 2? I'm not quite grasping it...
Partnership disbanding
Dec 27, 2012
1 Replies
"Chuck" wrote
The last two multi-owner business that closed out pre-paid me from the entity accounts. I liked that.
In theory and I suspect in practice there shouldn't be any remaining partnership assets going into 2013.
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