Good to know I did things correctly in 2008. Bad to know that I am going to pay a large amount of tax in 2022. I have one followup question. The LLC has 9 members. 3, including me, did have section 754 adjustments or whatever the correct term is, but the other 6 did. On the LLC's form 4797, does box e have to be calculated differently for those and have and do not have 754 adjustments? Same question re box f. The current CPA for the LLC has not factored that in.
Your help has been really valuable. Thank you again
