My partner and I formed an LLC (with partnership) because we had almost finalized a deal to buy another ongoing business. So, after forming the LLC, we purchased the business for which I completed Form 8594.
I cannot figure out how to enter opening balances and how the numbers from Form 8594 flow into balance sheet. I have been using Turbotax Business for over 10 years for my other companies...but this is a new and unique situation and TurboTax help is completely silent on these issues.
