turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

hage-jeff
New Member

Can I continue on the same deprecation schedule if I deed a rental property from an LLC to my personal name the LLC was dissolved in the end of 2016?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
CathiM
New Member

Can I continue on the same deprecation schedule if I deed a rental property from an LLC to my personal name the LLC was dissolved in the end of 2016?

If the LLC was a single member LLC and you were the only member, then just continue on the same depreciation schedule.  Just edit and change the name on the Rental Property if it showed the LLC previously.

On the Rental and Royalty Summary screen, click on Edit and Update under Property Profile.  You can change the property description if you had the LLC name there.

View solution in original post

1 Reply
CathiM
New Member

Can I continue on the same deprecation schedule if I deed a rental property from an LLC to my personal name the LLC was dissolved in the end of 2016?

If the LLC was a single member LLC and you were the only member, then just continue on the same depreciation schedule.  Just edit and change the name on the Rental Property if it showed the LLC previously.

On the Rental and Royalty Summary screen, click on Edit and Update under Property Profile.  You can change the property description if you had the LLC name there.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question