I am a 2 partner LLC (my husband and I). I have Turbotax desktop business. I file form 1065. We have numerous rental properties. In 2023 we converted one property to our primary residence. On the asset side I said we disposed of it. On the rental income side I disposed the property in a like kind exchange and said it was sold to a related party. However, my K1 is showing a massive loss coming from form 4797. My understanding is that on my 1065 it should be a non taxable transaction, showing no gain or loss. I'm not sure what I'm doing wrong. I also said how many days were rented and how many were personal use. I feel like I'm missing something. Thanks.
