sjrcpa
Level 15
05-09-2021
02:04 PM
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"There were no assets" Then why did your client receive $45K for his rights to the software (an asset)?
Your client has a sale of his interest in the LLC for $45K. This is a deemed sale of his share of the LLC's assets.
There still should be a 1065 from the beginning of the year until the date your client was bought out/date LLC dissolved.
The more I know the more I don’t know.