Transfer rental property from LLC to Owner/Partner

[skyworks]

A couple owns two Condos through the LLC, during 2021 one Condo was sold whcih I already report 1250/1231 Gain no problem.

At year end they transferred the other Condo from LLC to their name, I am look where to enter the transfer so no gain or loss show?

Also they close the business (canceled the partnersh with the state 12/20/2021), how do I report

this fianl return?

Do I need wipe the balance sheet to zero?

And distribut the asset transferrred and capitals?

[sjrcpa]

The property transferred to them personally is a Property Distribution.

Their basis in that property is the basis in the hands of the partnership immediately before the distribution.

[skyworks]

thanks, where do I report this transfer?

Form 4797 ? or Related party disposition?