scphil21
Returning Member

how to handle a mid year conversion from LLC partnership to single member LLC?

Last year an LLC which holds a residential rental converted from a multiple partner LLC to a single member LLC (just me).  I have filed a final 1065 for the LLC for the time it was a partnership and I was going to put the rest of the p&l on my schedule E.  That is fine for rent and expenses.  But in personal turbo tax I am unable to find how to allocate only a partial amount of the depreciation, not the full year.  Depreciation of my acquired interest starts from when the transaction happened, but my original interest depreciation should have no change, just an allocation between the 1065 time and schedule E time.  I can't see a way to override the software to take less than the full year.  Any ideas?