Could someone help in trying to find out when a 1065 Partnership closes its doors and
then takes the charge cards and split them up between partners to take an offer to pay them off - then receive a 1099-C in both partners name and social security and some in the partnerships name & ein number. What line on partnership? Can it be a guarantee payment?
Individual - on line 21. Can they qualify to determine insolvency?
So confussing.
Any leads...help.
then takes the charge cards and split them up between partners to take an offer to pay them off - then receive a 1099-C in both partners name and social security and some in the partnerships name & ein number. What line on partnership? Can it be a guarantee payment?
Individual - on line 21. Can they qualify to determine insolvency?
So confussing.
Any leads...help.