For what it worth, after a week trying to figure this out and three separate calls to the Turbo Tax phone support line that did not get me anywhere, I have come up with the following fix (which is far from perfect):
1) I am entering 6/1/23 as in-service date for all assets previously depreciated (even through that is not accurate bc the LLC is suppose to step into the shoes of the contributing members and continue same in-service dates and same depreciation schedules as the contributing members were using).
2) Even though it shows as an error, in forms mode I'm adding accumulated depreciation the members took on the contributed assets prior to transferring to LLC on 6/1/23.
3) To the extent applicable to each asset being depreciated, I'm electing not to take the special depreciation allowance for first year (because that would screw things up).
4) Steps 1-3 above results in a Depreciation Report that is fairly accurate for the LLC's 2023 tax year (current depreciation for LLC for 6/1/23-12/31/23 is correct [or tad low] and accumulated depreciation is correct [i.e., reflects total depreciation taken by members up to transfer to the LLC on 6/1/23]). Only real issue is that in-service dates are not what they should be.
5) I intend to print the return, attach a separate page to the Depreciation Report explaining why in-service dates are not what they should be (i.e., bc of limitations of Turbo Tax software), and mail return to IRS.
6) Next year (on 2024 tax return) I will change the in-service dates to what they originally were for the contributing members and the Depreciation Report and remaining depreciation schedule should be accurate from that point on (as if LLC stepped into shoes of the contributing members).
If anyone sees any major issues with my solution, please feel free to chime in.
Thanks!
