I had a Single Member LLC. The LLC had no income and no expenses in 2016. I also terminated the LLC in 2016 through the State of Texas.

[pauljhancock]

The LLC had assets which were written off in full in the tax year they were acquired.  The assets have been given away.  Is there anything I need to do with regards to the Federal Income Tax Return.

[MargaretL]

Since you closed your business but had assets, the IRS requires that you separately determine value of each asset (even if just given away) upon disposition so that each is treated correctly for tax purposes.

In TurboTax, when going through your self-employed business, be sure to indicate that you disposed it (the question is located in the Business Profile section ).  Then, go the  Business Assets section and enter each asset; the program will ask some general questions, such asset's cost, date of acquisition as well as the asset's disposition and prior depreciation  questions.  (if you wrote off the full amount in the year you required the asset, the amount is entered in the 179 deduction section (see attached pictures).