topic Where do I enter information for transferring assets for dividing an LLC? in Business & farm https://ttlc.intuit.com/community/business-taxes/discussion/where-do-i-enter-information-for-transferring-assets-for-dividing-an-llc/01/3179695#M105533 Two continuing LLCs with the same ownership as the prior LLC.<BR /> Wed, 11 Feb 2026 03:56:37 GMT jjstrem 2026-02-11T03:56:37Z Where do I enter information for transferring assets for dividing an LLC? https://ttlc.intuit.com/community/business-taxes/discussion/where-do-i-enter-information-for-transferring-assets-for-dividing-an-llc/01/3179695#M105533 Two continuing LLCs with the same ownership as the prior LLC.<BR /> Wed, 11 Feb 2026 03:56:37 GMT https://ttlc.intuit.com/community/business-taxes/discussion/where-do-i-enter-information-for-transferring-assets-for-dividing-an-llc/01/3179695#M105533 jjstrem 2026-02-11T03:56:37Z Re: Where do I enter information for transferring assets for dividing an LLC? https://ttlc.intuit.com/community/business-taxes/discussion/re-where-do-i-enter-information-for-transferring-assets-for-dividing-an-llc/01/3179739#M105535 <P>Please provide some additional details on what exactly occurred.</P> Fri, 09 Feb 2024 23:55:52 GMT https://ttlc.intuit.com/community/business-taxes/discussion/re-where-do-i-enter-information-for-transferring-assets-for-dividing-an-llc/01/3179739#M105535 Rick19744 2024-02-09T23:55:52Z Re: Where do I enter information for transferring assets for dividing an LLC? https://ttlc.intuit.com/community/business-taxes/discussion/re-where-do-i-enter-information-for-transferring-assets-for-dividing-an-llc/01/3184635#M105708 <P><SPAN style="font-size:14px;">You cannot "transfer" assets in TurboTax. Instead, you'll need to "sell" the assets from the old LLC and enter them again as assets for each new LLC.&nbsp;</SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px;">This is a complex and tedious process, and you may consider upgrading to </SPAN><A href="https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live" target="_blank"><SPAN style="font-size:14px;">TurboTax Live</SPAN></A><SPAN style="font-size:14px;">. This online service provides step-by-step guidance from a tax expert whenever you need assistance, either over the phone or by screensharing.</SPAN></P> Mon, 12 Feb 2024 16:51:06 GMT https://ttlc.intuit.com/community/business-taxes/discussion/re-where-do-i-enter-information-for-transferring-assets-for-dividing-an-llc/01/3184635#M105708 PatriciaV 2024-02-12T16:51:06Z