Which tax form to complete when transferring a rental property into an LLC in 2023?

Forum|Forum|2 years ago
June 17, 2024
2 replies
11 views

I have a rental property that I put in a 2 member LLC in 2023, which tax form in my 1040 that I should use to show that i no longer have the rental property?

ProSeries Professional

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Jim-from-Ohio

Intuit Community Champion

There is no form required as part of the 1040..remove Schedule E worksheet from the 1040 if it was gone for the entire tax year.. that should remove the assets as well.

qbteachmt

Level 15

Are you using ProSeries to prepare Form 1065?

You might be lost on the internet.

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Thanks.

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