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Sale of LLC assets

dvinegrad
Level 3

Client sold some, but not all assets of his LLC business

where is best place to record the sales in partnership module?

do i list each asset sold as a separate sale?

do this produce a IRS form showing the sales of each asset?

 

Thanks

Dave 

0 Cheers
2 Comments 2

the depreciation screen has a unit for dispositions.

 

You are allowed to group similar assets eg 1245 together. That is up to you.

 

F4797

George4Tacks
Level 15

You should probably also file form 8594. Both buyer and seller are required to include that form.

https://accountants.intuit.com/support/en-us/help-article/fixed-assets/generate-bulk-sale-asset-acqu...

Group the sale of assets and enter sale via the depreciation screen.

https://accountants.intuit.com/support/en-us/help-article/form-8949/enter-bulk-sale-assets-lacerte/L...

 


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