Hi, I asked this question in the TurboTax home and business forum, but realized it should be here. Mid year I switched from a single owner LLC to a partnership. I gifted 50% of the business to my new partner. We filed an 8832. Do I report all income pre-partnership on my Schedule C as I have in the past, and all income from date of partnership on the 1065? Also, how do I reflect the gift? Is that a loss on my Schedule C?
Thank you.
