I have a client who invested 125K into a pship 1 1/2 years ago, income allocated to him each of the years (as well as distributions), K-1 presents a cap acct of 176k (basically the 1 1/2 income less distributions) on final k-1. Is there any tax treatment here with the ending capital account? I do not know if interests were sold or capital accounts cashed out? Thanks so much in advance!
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Final K-1_Ending P'ship capital account_Partnership experts please?
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