dj-singer
New Member

If 2 of 3 members of an LLC sell their interest for $7,500 each, with ending capital of $1,350 each, what do they have to claim on their individual tax return? And where?

At time of sale of interest in rental property (LLC)*:
  Total Assets = $165,000
  Total Liabilities = $161,000
  Total Equity = $4,000

* numbers are rounded