Last year, wehad a business as a sole proprietorship under my wife. She was the sole owner. On January 1, 2019, we started an LLC where both she and I are 50/50 owners. We are still in the same business. We basically just changed the structure. So, actually the sole proprietorship ended on 12/31/2018 and the LLC began on 1/1/2019. My question is as follows:
Last year, the sole proprietorship had an ending inventory. That inventory was the same amount that we started the LLC with this year. How do I account for that on TurboTax Business, though? It doesn't ask about last year's inventory since the LLC just started this year.
