KristinaK
Employee Tax Expert

Business & farm

1. When you go over the questions for the NY LLC Schedule C, there will be a question about how long you've worked that business. The second choice will allow you to indicate that the business was closed (see screenshot). 

 

2. If you have fixed assets reported under your NY LLC, I suggest you "sell" them, and then "place them in service" under NC LLC, maintaining the same basis and prior year depreciation claimed. 

 

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