Greta
Level 9

1% partner dropped out. Do I need a new EIN for the resulting sole proprietorship which kept the LLC name? I will now report the LLC on the personal return. I need to transfer depreciation for vehicles, rental properties, equipment etc. This happened halfway thru the year, but can I file a zero 1065 and use 99% of depreciation on the sole proprietorship schedules. Frankly, the partner relinquished his 1% years ago, and we're just now catching up to this fact. Messy history that I finally want to clean up. Appreciate your advice!

0 Cheers