The passive losses generated while you personally held the property remain with you. They are not transferred to the new entity. In other words, they become passive loss carryovers for your investment in the LLC. These are entered under the Schedule K-1 topic.
For the rental property, on the page titled "Do Any of These Situations Apply to This Property?" be sure you checked the box under Converted: "I converted this property from a rental to personal use in 20XX." This option should bypass the need to enter sale information.
When you report you stopped using the rental assets, you may have depreciation recapture for some assets.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
