I have now completed my 2019 tax return in TurboTax EXCEPT for dealing with the Philadelphia NPT/BIRT taxes which I personally paid in 2019 for an LLC that I had been a member of which filed a final tax return in 2018. If you refer to the response above from Rick19744, he made three assumptions about my situation which were all correct, and at the end of 2018 I had a zeroed out tax basis on the final K-1 I received for the closed LLC. As such, Rick's advice was this:
"So essentially what happens is you now have tax basis equal to the amount of $$ that you personally paid; there is a deemed capital contribution for the $$ that you paid Philly. This will be reported on your 2019 tax return; form 8949 and Sch D. The sales price will be zero and your cost basis will equal the $$ you personally paid (updated tax basis figure). This will be deemed long-term assuming that you held your LLC interest for over a year."
But here's my problem: I have NO IDEA where to go in TurboTax 2019 to fill out Schedule D and 8949, as none of the options presented in TurboTax seem to cover my situation. I have played around and tried to make it work in several different places, but since I'm trying to deal with business taxes I paid in 2019 for an LLC that was closed out in 2018, I am totally lost. Any help you may be able to provide would be greatly appreciated!
