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Tax Year Prior to 2020: How do I properly record converting an LLC into a C Corporation in TurboTax?
I converted my LLC to a C Corporation during 2019. When filling the K-1 entry in TurboTax, I checked "This partnership ended in 2019", followed by "Disposition was not a sale".
However, on the next page it asks me to fill in the Purchase Date and Sale Date. I just said it wasn't a sale!
Should I put Purchase Date and Sale Date as the date of conversion?
Topics:
March 4, 2020
3:38 PM