Car is listed as an asset of my single member LLC (treated as an S-Corp). I have closed the LLC. Do I show the vehicle's value as a distribution to me on the K-1; and what do I show on the balance sheet that it's no longer used by the LLC (and does that trigger recapture of depreciation)?
posted
November 6, 2023
2:28 PM
last updated
November 06, 2023
2:28 PM