Based on your facts, it appears that you and your Dad were in a partnership together (multi-member LLC taxed as a partnership).
If that is the case, then on 12/31/2017, once your Dad "transferred" his interest to you, the multi-member LLC became a single member LLC which by default is a disregarded entity.
Once this occurs, there is no need to file form 8832 as becoming a single member LLC is the default. You do, however, need to file a final form 1065 for 2017. Both the return and K-1's need to be marked final. You could add a statement to the final form 1065 detailing what occurred and that based on IRC Section 708(b)(1)(A) the partnership terminated and that in accordance with Regulation 301.7701-3 will now operate as a single member LLC.
There are several additional issues that need to be addressed by you:
- Your Dad's "transfer" sounds like a gift, so a gift tax return may be necessary
- Your facts don't indicate what was in the LLC, but you will step into the same basis as what your Dad's basis was in the assets at the time of the "transfer" / gift. If these are depreciable property, then you also inherit any depreciation recapture upon disposition of the assets.
*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.
