Thanks. This is more in line with was I was expecting to hear.
Thankfully, the LLC accounting was done by an accounting firm. They will also prepare 1065 for the LLC for the first 3 months of the year AND the personal taxes for my ex-wife who gets 4 properties from the LLC. So he will do this correctly for her and hopefully be able to tell me how to do it myself in TTX (if TTX even allows me to do this correctly - it appears there are some limitation in the program).
I just send him the guidance I received here and asked him to confirm if this is the correct way to handle it. Based on what you are saying the answer will be no. I'll wait and see.
