# Enrolled Agent Exam [Part 2] 12, Partnership Termination and Dissolution

Page: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-12-partnership-termination-and-dissolution
Text version: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-12-partnership-termination-and-dissolution.md
Podcast: [Finance Exam Prep](https://stenobird.com/podcast/finance-exam-prep-7658413)
Published: 2026-05-09T22:41:20+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/96bfb04f-4efd-4efe-8df2-93f728f2169e.mp3
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Duration seconds: 190

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That the technical termination rule, triggered by a 50% ownership change, was repealed and is a common exam trap. - The two conditions under IRC §708(b)(1) that cause an actual partnership termination: cessation of all business and no continuation in partnership form. - The critical distinction between a partnership's dissolution under state law and its termination for federal tax purposes. - The tax consequences of termination, such as filing a final Form 1065 and issuing final Schedule K-1s. - The rules for a partner to recognize a capital gain or loss upon receiving a final liquidating distribution. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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