On Dec 31, 2022 my partner gifted me their share of his partnership interest, thus I want to now convert our formerly Partnership LLC into a single member LLC (disregarded entity).
According to the answer here , I am suppose to mark my Federal Partnership Return as FINAL; however, there are no instructions for the STATE (California) return.
How do I handle this in Turbo Tax Business? Do I also mark the state return (FORM 568) as FINAL, or do I pay the Franchise Fee $800 and file a LLC-1a form to process the conversion?
Thank You So much!
