We have a family LLC. My wife and I each transferred $15,000 at year end to each of the other four members. We did not contribute new money to the LLC, rather we transferred a portion of our ownership interests in the LLC to each of the other four. How do we reflect in TurboTax our gifts (totaling $120,000) to each of the other four, whose capital accounts will be increased by $30,000 each?
