A single member LLC, ended its Rental activity, on May 15th 2007. at that time took up a new Sch C business activity with its spouse. The question is can they elect the Qualified Joint Venture and report their apportioned income and expenses on seprate Sch C's, or will they be required to default to a 1065 partnership due to the LLC status??
Announcement
Collapse
No announcement yet.
Disregarded Single Member LLC can it convert to a Qualified Joint Venture
Collapse
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.