I am using TT business doing my tax return for LLC partnership on form 1065.
For tax year 2022, I lived in my rental property for 3 months, the remaining of the year it was rented out. I adjusted my expenses and removed the expenses for the 3 months that I lived there.
By doing this, my balance sheet is out of balance for the amount that was removed for the tax year.
How can I balance it?
I am thinking to add the amount out of balance as receivable from me to the LLC. In fact, since I used the property for personal use, and the LLC paid for it, I need to pay it back to the LLC. Would that work?