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Business & farm
TurboTax Business can certainly handle the transaction but will you be able to answer all of the questions correctly? Are the related party rules triggered by the percentages of ownership here? Are there transfer taxes liable in your locality?
TurboTax is a great tool but you're in a very complicated area here - one which is beyond the scope of this forum. I am going to re-iterate the advice issued to you by @M-MTax and @Rick19744 - hire a professional to sort this out for you.
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‎January 27, 2022
4:05 PM