jfenn
Returning Member

Conversion of Rental Property held by H/W LLC Partnership

Property was one of many we contributed to LLC in 2008-2015. We have since sold off all of the rental properties in the LLC except for the last one which we have converted to personal use in 2023. How do you reflect this conversion in turbo tax business software and what are the tax consequences on the conversion of the real estate and associated depreciable furniture?