In turbotax business where do I show my partner and I sold part of our equity interest in the LLC

[davestephan]

In our LLC my partner and I each sold 3.5% of our equity to a third partner.  I can get the 3rd partners 7.5% ownership in TTbusiness but I can account for our sale to him.  It just looks like the 3rd partner is investing 75,000.  It does not look like we are selling part of the equity. 

[Anonymous_ · Accepted solution]

You need to keep track of your basis outside of TurboTax.

The "sales price" is not reflected on any partnership income tax form; the percentages of ownership are adjusted in the program (which it appears you have already done).

Read the recommended post in the following thread; just the part that relates to the basis.

https://ttlc.intuit.com/community/business-taxes/discussion/re-purchased-partner-s-50-ownership-of-a...