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Updated 4 months ago on . Most recent reply
Has Anyone converted a multimember llc to a sole member llc?
Wondering if anyone has converted their multimember LLC down to a sole member LLC and what the process is, all I have found on it is to fill out form 8832. Also, I won't do any buisness this year through my LLC so will I still have to file? Thanks for everything!
-Calum
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Basit Siddiqi
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Basit Siddiqi
#4 Buying & Selling Real Estate Contributor
Tax & Financial Services
Pro Member
#4 Buying & Selling Real Estate Contributor
- Accountant
- New York, NY
What is cuasing the multi-member LLC changing to a Single member LLC?
Did one partner buy the other partner out?
Did one partner die?
You normally want to mark that the partnership is filing a final year return.
If one partner is being brought out, that individual will have to report a sale on his/her individual return.
- Basit Siddiqi
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Basit Siddiqi CPA
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