Hello! I originally posted this in "get your taxes done," but wasn't getting any answers/feedback. I was hoping I could get some help here!
I moved from California to Tennessee for a career change the first of the year in 2023. I no longer participated in "LLC," (owned by me, and I am the only member) which is listed in California from there on out. I finally got around to dissolving "LLC" 3/9/23. I have been self employed, working as a sole proprietor in Tennessee all of 2023, in a completely different line of work.
-I still own said rental properties.
-The properties have always been reported on my Schedule E, on my personal return (started by an accountant long ago). All my real estate is listed under "LLC" business tab (see attached).
-I dissolved "LLC" because I moved and that is no longer the line of work I am in, and also to save the $800/year filing fee in California as well.
-The property titles have always been in my name, and still are.
For a years, I have been filing my rental properties (all in California), under "LLC," taking depreciation each year, so my questions are:
-Do I add another business under "Business Income & Expenses," to add my new venture's 1099's etc, and move all my rentals to this field? Is there an easy way to do this?
-Do I leave the "LLC" business listed and the only thing I do here is check off "this business was sold or disposed of this year?"
Thanks in advance!
