turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Sale of Rental House as only asset in a husband & wife LLC with input into our 1040

The LLC held title and upon the sale of the rental house, the LLC was dissolved. How do we flow from the Form 1065 to our joint Form 1040?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Sale of Rental House as only asset in a husband & wife LLC with input into our 1040

If the partnership disolved then you will file a final form 1065 using the TT BUSINESS program and  the K-1 forms it produces are entered in the personal tax return program ... they do not "flow" from one program to another. 

Sale of Rental House as only asset in a husband & wife LLC with input into our 1040

By definition, an LLC is considered disregarded from its owner.  Once you have the K-1, which is created with TurboTax Business, you would take the information and enter it directly into TurboTax individual software. Here is a TurboTax article that explains how.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question