My wife and I are 50% owners of an llc that bought property several years ago. for 350k. We ended up selling the property for a loss a5 186k. How and where do I enter the information such that the K-1's produce the appropriate losses from the sale. We are closing out the LLC as of the sale of the land. Property was located in New Mexico and we live in North Carolina. LLC was registered in New Mexico.
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