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inoss
Returning Member

1120s and k-1 dealings with vehicles

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)? 

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1120s and k-1 dealings with vehicles

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