How to Fill Out Schedule K for Form 568 for LLC

I established an LLC for my Roth IRA in 2022. I invested my retirement income in Cryptocurrency. Which lines in Schedule K do I report the fair market value of my investment? I did not sell my crypto. My money remains invested in crypto. The fair market value decreased from Jan 2022 to Dec 2022. How do I report the change in value. I did not sell the crypto.

Also, who in TurboTax can I hire to look over my Form 568? Thank you.

419

Expert Alumni

Mar 15, 2023 3:55:33 PM

Since it is the value that the LLC is carrying this change is a balance sheet change, not an income or deduction change.

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Here is the link for TurboTax business live.

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How to Fill Out Schedule K for Form 568 for LLC