Carl: Thank you for your answer.
The first LLC was owned 100% by me. The new LLC is owned 99% by me and 1% by my adult son. The quitclaim deeds were properly recorded at the County Recorder's office. First there was a quitclaim deed to transfer ownership of the properties from the first LLC (a single-member LLC in the state where I live) to me, and then a couple of weeks later I did another quitclaim deed to transfer ownership of the properties from me into the new LLC (a multi-member LLC in a different state where neither owner resides).
So, based on the answer from Carl, it looks like I should not make a copy of the TurboTax file from the first LLC and simply continue the depreciation as before; but instead I need to start a new TurboTax file for the new LLC, and the new LLC will have a new depreciation schedule that uses the last depreciated value [taken from the latest tax return of the first LLC] as a starting point. Right?
