jennidez43
Returning Member

Transfer Inventory from Sole Proprietor to SMLLC

I sell craft supplies online. I have been running as a sole proprietor for the last few years. Since the business is growing, I want to change the structure from sole proprietor to a Single Member LLC. My question is:

How to I transfer the inventory to the LLC? Would this be a capital contribution? How do you record this in Quickbooks on both (Sole P. & LLC) ends?