LLC Owns LLC

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  • TAX
    Senior Member
    • Dec 2005
    • 330
    #1

    LLC Owns LLC

    Client "A", LLC, has one member "B" also LLC.

    "A" owns real estate.

    "A" would reprot income and loss on Sch E since "A" is a single member LLC, and is considered disregarded entity. No K1 will be issued for "B" (only LLC member)

    Does this sound right?

    Thanks!
    Tags: None
    • AZ-Tax
      Senior Member
      • Feb 2008
      • 2604
      #2
      Either Sch E or Sch C

      I would be leaning towards Sch C if the LLC has an EIN but that is my opinion or more like a guess : )

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