I managed to figure this out myself. In the TT screen where it asks how you got rid of the asset, if you say that you gave it away then TT will not count it as ...
Does anyone know the answer to this question?In TurboTax Business, how do I enter the transfer of assets from a SMLLC to myself without TurboTax calculating it ...
To simplify the question a bit:In TurboTax Business, how do I enter the transfer of assets from a SMLLC to myself without TurboTax calculating it as a taxable e...
The short answer is "no"; the SMLLC never filed on 1120S.The complete answer is a bit more complicated (although I don't know if it is relevant).The SMLLC has p...
Carl: Thank you for your answer.The first LLC was owned 100% by me. The new LLC is owned 99% by me and 1% by my adult son. The quitclaim deeds were properly rec...
