In addition to @Mike9241 response to your direct question, keep in mind that there are many other items and issues that need to be addressed:
- organize under your state law
- prepare articles of organization
- prepare LLC operating agreement
- will you have a part-year return
- will the new entity actually be a partnership or a multi-member LLC taxed as a partnership
- you will need to understand Revenue Ruling 99-5 impact on your entity change (assumes the new entity is also an LLC)
- the above is not an all-inclusive list
It is probably a good idea to have a one on one with a tax professional to discuss the new entity structure, how it works, what you can and can't do, etc. Best to start off on the right path.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
