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Changed jobs & states. Depreciation from property listed under dissolved LLC

Hello!

 

I moved from California to Tennessee for a career change the first of the year in 2023. I no longer participated in "LLC," (owned by me, and I am the only member) which is listed in California from there on out. I finally got around to dissolving "LLC" 3/9/23. I have been self employed, working as a sole proprietor in Tennessee all of 2023, in a completely different line of work.

 

For a years, I have been filing my rental properties (all in California), under "LLC," taking depreciation each year, so my questions are:

-Do I add another business under "Business Income & Expenses," to add my new venture's 1099's etc, and move all my rentals to this field? Is there an easy way to do this?

-Do I leave the "LLC" business listed and the only thing I do here is check off "this business was sold or disposed of this year?"

 

Thanks in advance!

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1 Reply
PatriciaV
Expert Alumni

Changed jobs & states. Depreciation from property listed under dissolved LLC

Please clarify if you still own rental properties in California. Where these properties reported under the LLC? If so, why did you dissolve the California LLC? Who owns the title to the rental properties now?

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