Excellent.
What happens here is that your tax basis in the LLC now becomes your basis in the stock of the C corporation.
When informing TT that you have disposed of the LLC, you can select complete disposition. The key here is to enter your basis as the sales proceeds AND for your basis. This will generate zero gain or loss and eliminate the K-1 from your return when rolled over next year.
Make sure you maintain your tax basis records which will be necessary when you dispose of the C corporation stock.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
