Not sure. I guess I can file a final 1065 for the LLC or continue to file returns in future with zero activity. Doing the latter would allow the LLC to report the eventual sale of the assets they continue to own although they are used personally by members.
Regarding depreciation recapture -
My current understanding is - It appears assets that have been depreciated with "special depreciation allowance" could have recapture once they are converted to personal use. Recapture would be depreciation claimed in excess over SL depreciation even though no disposition. This would be in addition to 1245 recapture if asset sold for gain at later date. This is based on what I read today.
