Discussion:LLC &MEMBER DISASSOCIATION
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Discussion Forum Index --> Advanced Tax Questions --> LLC &MEMBER DISASSOCIATION
Discussion Forum Index --> Tax Questions --> LLC &MEMBER DISASSOCIATION
Plainfacts (talk|edits) said: | 3 January 2008 |
| Just been approached by a potential Client about filing his return..aside from his regular job..he started a LLC for Real Estate Investment in 2005 with 2 other other people .( so stated in the Article of Association with the GA sec of State..however he was the only one with money in the LLC account,needless to say there was disagreement...the other two member left gave him notice they are quiting or disassociating from the LLC..that was in 2005...No return has been filed since...Now do I file as a single Member LLC in which case I simply include a SCH E for the only property he bought in 2005 and rented out...or do I file a normal Form 1065..there cannnot be a prorata share of income to K_1 since none of the members invested anything...I will appreciate benefit of your collective wisdom ...Thanks and happy New Year | |
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