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2 replies

Critter
Level 15
Jun 6, 2019 12:48 PM UTC

If you report the LLC on a Sch C then "closing" it is simple   ...just report any assets sold, stop depreciating any you are converting to personal use & click the box on the Sch C that says final. 

https://www.irs.gov/businesses/small-businesses-self-employed/closing-a-business

Lisa995
Alumni - Champ
Alumni - Champ
Jun 6, 2019 12:48 PM UTC
Your state may require additional steps though.
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