Question

adjusting basis for inherited shares in multi member LLC

Forum|Forum|2 years ago
February 18, 2024
1 reply
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I am the managing partner in a multi member LLC with rental property. My mother was a partner. She died in Jan 2023, leaving her share to me and my sister. there is one other member. We had the business appraised and we have agreed on ownership percentages. I just don't know how to go about changing the capital account and cost basis.

TurboTax Business Windows

PatriciaV

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