Family LLC member leaving

[davidlecates]

Our 4-member family created an LLC last year in January.  One of the members decided they wanted out at the end of the year.  The other three members bought their share.  When entering in Turbotax it won't let us check both the boxes for first year member and member left the company this year.  This seems to give an issue with trying to adjust the capital balances of all the members.

Any suggestions on how to get around this.

[Anonymous_]

You need to indicate that there was an ownership change by changing the default "No" to "Yes" in Has an Ownership Change under the Business Info tab (About Your Business).

[davidlecates]

We had done that, the issue seems to be that one of the members left during the first year.  It doesn't seem to work for someone that both started and left the first year.  We can't get that person's information entered correctly.

[Anonymous_]

Have you tried doing this procedure in Forms Mode?

[davidlecates]

Yes, we finally figured out we could override what was in the form to get what we needed.