Hi all!
My parents and I have been managing a rental property held under a partnership LLC. We are liquidating the partnership this year and have distributed the rental property back to the partners in kind.
I'm doing the final 1065 return, and TurboTax is forcing me to specify how this asset was disposed of. I have options for "sold, exchanged for another property, stolen, casualty loss, given away, disposed of some other means".
I don't see the option for "distributed in-kind", and I'm wondering if I messed something up? I did make sure to add the FMV of the property distributions to the partner information sheets for this year.
Any help would be appreciated.
