@ProStar wrote:
In June 2019 the LLC that I am part of sold real estate that was purchased in 2005 at a significant loss. I'm getting a jump on preparing my Tax return in TurboTax 2019, what is the best way/form to show this loss on my taxes?
If the LLC is a multi-member LLC that files a Form 1065, you will have to wait until you receive your K-1.
If the LLC is a single-member LLC (you are the only member and did not make an election to be taxed as a corporation), you can begin to enter the transaction (assuming that part of the program is complete) but the section in which you would enter it would depend upon the manner in which the property was used (e.g., rental, investment).
