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daleanth
Level 2

Final return for LLC dissolved mid-year.

I dissolved my multi-member LLC 8/1. How I specify the LLC ending date and mark as final return in TurboTax Business?

2 Replies
tagteam
Level 15

Final return for LLC dissolved mid-year.

You need to check "Yes" to the very first question as to whether the LLC is filing its final return (located in About Your Business under the Business Info tab). 

 

Hopefully, you can take it from that point. Note that closing a multi-member LLC can be very complex in terms of capital accounts, tax returns, etc., so you might want to seek professional guidance.

daleanth
Level 2

Final return for LLC dissolved mid-year.

Thanks for the quick answer, Tagteam! 

 

I transferred data rom last year's return into TurboTax business.  On the Business info tab>About your business tab, there is no option for specifying final return. The closest thing to this is "Has an ownership change" which is more for individual partners leaving the company.  However, in forms view, form 1065 G-2 allows me to specify.  

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