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Business & farm
Second set of questions after reading your question again:
5) Did the LLC have any depreciation?
6) What was the method of accounting of the LLC?
These responses to these two additional questions could impact the character of your gain; will not change the overall gain (if you have a gain based on the responses to all the previous questions), just the character - capital / ordinary.
5) Did the LLC have any depreciation?
6) What was the method of accounting of the LLC?
These responses to these two additional questions could impact the character of your gain; will not change the overall gain (if you have a gain based on the responses to all the previous questions), just the character - capital / ordinary.
*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.
Also keep in mind the date of replies, as tax law changes.
‎June 6, 2019
6:26 AM