2 newly created LLC's in 2010 with multi members.

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  • AZ-Tax
    Senior Member
    • Feb 2008
    • 2604
    #1

    2 newly created LLC's in 2010 with multi members.

    1. Husband, Spouse and Mother in law for one LLC
    2. Spouse and Mother in law for another LLC.

    Both LLC's obtained EIN's in 2010.

    Each LLC owns residential rental

    I am thinking each LLC files as a Partnership form 1065, correct?

    Neither LLC elected S-Corp taxed.
    Tags: None
    • AJsTax
      Senior Member
      • Jun 2008
      • 629
      #2
      The default

      form for a MMLLC that did not elect otherwise is a Partnership 1065.
      I do not see any other choice by the rules for these.
      AJ, EA

        Comment

        • Super Mom
          Senior Member
          • Jun 2007
          • 1151
          #3
          yep 1065 if no elections were made, but if they wanna make elections you may be able to do that with the first filing??????

            Comment

            • oceanlovin'ea
              Senior Member
              • Jun 2005
              • 2682
              #4
              late elections

              You can file an extension and then file for relief for late S corporation elections.

              See TTB page 19-4 for details of relief for late s corp elections.

              Linda, EA

                Comment

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