M-MTax
Level 14

Self employed

I think you'll need to post more details for someone to be able to give you any useful feedback.

 

For example, is this (or was this) a multi-member LLC? If so, were you a member or was this a single-member LLC that your friend organized and then, for some reason, gave (gifted?) you the entire business? Is your friend still a member? Were you an employee of your friend's LLC? Does the LLC own any assets?

 

More details are needed.