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Business & farm
Thank you for your replies everyone. This is a two-member LLC (my husband and I). Taxes are prepared on 1065 to then issue K-1 for our 1040. We are working in Turbo Tax Business (1065) and Turbo Tax Business and Personal (1040). It looks like I need to report the disposal of the truck and trailer from our business on the 1065, not the Form C on 1040, I just don't know where to report it. We are keeping both, not selling them, but will be using as personal vehicle. Look forward to your answers, and sorry I did not make this clear earlier.
‎February 19, 2021
3:47 PM