I am using TurboTax Business. LLC member died during the year. Is there a requirement to inform IRS of the death? If so, how is this accomplished using TurboTax Business?
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You are not required to report the death of an LLC member to the IRS. However, you will have a change in ownership for the year they died.
There may be other areas of the return you will need to revise to adjust the current members' accounts for the change in ownership. You may need to use Forms Mode to review and/or edit this information.
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