I'm at the point of adding our final K-1's for a multi-member LLC that was dissolved in 2018. Adding to my personal taxes, there is an option on the "Describe the Partnership" page in TurboTax that says "This partnership ended in 2018." Do I select that option and fill in sold date, etc? I'm not sure since I didn't just end my partnership, the whole LLC was dissolved.
If the LLC dissolved and it was treated as a partnership for tax purposes, then yes, the partnership ended in 2018.
You will need to report several items. First, the items shown separately on the final Sch K-1.
Then in addition to that, you have a partnership interest (a capital asset) that was also disposed of. You need to calculate the basis in that interest after taking into account the final K-1 items.
If you received any money, property, relief of debt, etc., etc. when the partnership ended, that would be in exchange for your partnership interest. There normally would be some gain/loss on anything received and the basis in the partnership interest.
Here is a link to Publication 547, Partnerships. This should help give you some guidance
chrome-extension://oemmndcbldboiebfnladdacbdfmadadm/https://www.irs.gov/pub/irs-pdf/p541.pdf
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