The National Directory of Certified Public Accountants

Ask A CPA - Partnerships - Form 1065

Can A Partnership Continue After The Sale Of A Partnership Entire Interest?

No. The tax year of a partnership closes when a partner's entire interest in the partnership is sold or terminated.

If you need professional help with "Partnerships - Form 1065" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.