Announcement

Collapse
No announcement yet.

LLC Owns LLC

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #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
    #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 : )

    Comment

    Previous template Next

    Disclaimer

    Collapse

    This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

    Working...
    X