Investors & landlords

create a separate statement and attach it to your return that must be filed by mail. Turbotax can't handle non-standard statements. I can't say whether or not the IRS will read the statement. 

 

 

 

your alternatives

1) is to skip the disclosure to enable e-file and then respond to any IRS notice.

2) on the location line leave the number and street. Follow with "transferred to LLC partnership"

used the city line for the portion that won't fit on the location line

 

for example: location line  281 apple transferred to

city line  LLC partnership

note state and zip required so this is not perfect 

 

on schedule E it will appear as follows (il state 60006 zip code)

281 apple transferred to, LLC partnership, IL 60006

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To transfer rental property to a partnership, you need to file a statement with the partnership return for the tax year during which the distribution or transfer occurs. The statement must include the name and address of the partnership, and a declaration that the partnership elects under IRC Section 754 to apply the provisions of IRC Sections 734(b) and 743(b)