do I need to create 3 K1's again from our LLC to our individual names, and then we each enter two K1's into our taxes? Yes, you will need to handle it the same way you did in past years for the one that was sent to the LLC and you will each enter 2 K-1's on your return.
How to document this situation? As you walk through the steps for the LLC you will select that it has been dissolved. You will also select that it ended when entering it on your personal return. That is all you will need to do.
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