Partnership has one commercial rental building. Partners A&B split everything 50/50. A buys out B's partnership interest on 12/31/09. A sells the building in 2010.
I'm thinking that B only has to show a capital gain on schedule D for his partnership interest sale, that A will do the same since the partnership dissolved in 2009.
For 2010, A should deal with all the recaptured depreciation on the sale of the building.
Am I on the right track? Thanks for any comments.
Dennis
I'm thinking that B only has to show a capital gain on schedule D for his partnership interest sale, that A will do the same since the partnership dissolved in 2009.
For 2010, A should deal with all the recaptured depreciation on the sale of the building.
Am I on the right track? Thanks for any comments.
Dennis
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