Sold rental property, ended partnership
My partners and I had a multi-partner LLC which existed only for a rental duplex. The duplex was sold in 2020. At the end of the year we dissolved the partnership. When Turbo Tax asks if the LLC was disposed of, sold, liquidated, etc it seems like I should say yes. However, we did not sell the LLC, only the property. We dissolved the LLC due to the sale. Are these two separate things? Should I report the sale date and amount of the property, basis, etc. on my personal income taxes or only on the 1065 (done)? It seems to be showing the capital gain twice (as reflected in the taxes due going way up). How should I answer when it asked if the LLC was "disposed of"?