Sorry for the delay in answering - I have been out with Covid, but I am back among the living now.
Let me see if I can explain better. A multi-member LLC with rental property transferred ownership of the rental property into a new multi-member LLC with the original multi-member LLC as one of the owners. Then the original multi-member LLC sold its interests in the new LLC to the other new LLC members.
In TTBiz, for the question 'Bought or Sold a Business this year", should that be answered "Yes" since ownership in the new LLC was sold? In the section on rental property details, the fact that the rental property was disposed of needs to be identified, but none of the reasons seem to apply to this situation. Can TTBiz handle this type of transaction, a Drop Down LLC transfer?
