How to process sale of the LLC interests to new members in middle of the year and federal ID and state ID numbers stays the same ?

[armen_odesho]

LLC business was sold in the middle of the year to new members

name of the business and EIN number stayed the same

how to process this ?

[TaxMonkey · Accepted solution]

What return are you doing?  The LLC's, the selling members or the purchasing members?

[armen_odesho]

both , selling and purchasing was done in 2018 , using transfer of interests,

[sjrcpa]

Change in Ownership Screen

[armen_odesho]

how about purchase price and sales price ? where to process it

[sjrcpa]

If old members sold to new members that is not part of the partnership return. Selling members report on their tax returns. You should probably fill out Forms 8308 as part of the 1065, though.