Business & farm

You do not have to do anything to make it official with the IRS other than enter the appropriate percentages of ownership for each member of the LLC. However, the partnership agreement (LLC operating agreement) must specifically allow for any change.

If you are making a change during the tax year, then so indicate by changing the default "No" to "Yes" in the section of TurboTax Business depicted in the screenshot below.

If you are starting a return for a new tax year, then the program will prompt you to enter any changes after you transfer in the previous year's return.