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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29577
Experience:  Taxes, Immigration, Labor Relations
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What do we need to do with a Limited Partnership after we

Customer Question

What do we need to do with a Limited Partnership after we filed the final tax return? We now need to request a new Fiscal year for this Limited Partnership for other purpose.
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

If you file the final tax return for the partnership - that means - the partnership is dissolved and doesn't exist anymore...

All assets are distributed to partners.
So - because the partnership is dissolved - you may not request anything for THAT partnership.

But you may form a new partnership and may request a Fiscal year for that NEW Partnership.

Expert:  Lev replied 1 year ago.

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