Switching to LLC when I am already selling

[tammylui_tax]

I am currently selling online with goods and would like to switch to LLC. I am trying to understand the assets transfer portion.

For example, if I own $4,000 parts and want to transfer to my LLC, would LLC purchase the good from myself and mark as inventory with cost under the LLC? I would then file an income tax because I sold the items, correct?

Or could it be mark as lose only when the item is sold?

[M-MTax]

The transfer from you to the LLC would be a capital contribution.

You might want to consult with a qualified professional in your area.