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Only Passive VS activies income(loss) Taxpayer have several
This question is forCustomeronlyPassive VS activies income(loss)Taxpayer have several K-1 from 1065 and 1120s. How do you determine if they are passive or activity income or loss by just review the K-… read more
taxmanrog
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I have a client who has an LLC with 3 partners. Can all
I have a client who has an LLC with 3 partners. Can all three partners be Limited partners or one of them must be General partner. Reason I am asking, there is income, where for all the limited partne… read more
PDtax
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I have a business that is a partnership. One of the partners
I have a business that is a partnership. One of the partners is a silent partner and says she should not have self employment income. When it is a 50/50 partnership I do not see how she can opt out of… read more
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As an LLC filing a 1065 does there have to be a general
As an LLC filing a 1065 does there have to be a general partner/llc member manger or can all the members be limited partners or other llc members? Do limited partners pay self employment taxes on the … read more
Lev
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I HAVE A 3 WAY PARTNERSHIP, FARMING, ONE OF THE PARTNERS DOES
I HAVE A 3 WAY PARTNERSHIP, FARMING, ONE OF THE PARTNERS DOES ALL THE WORK. HE IS PAID WITH A GUARANTEED PAYMENT. IS HIS WAGES DEDUCTED ON THE SCH F OF THE FORM 1065 AS LABOR. THEY ARE AN LLC.… read more
Lev
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Dear Tax Professional, If a LLC partnership generates a
Dear Tax Professional, If a LLC partnership generates a huge loss, each member is shared the loss in their K-1 report. Let's say one member's shared loss is much more than his other types of income in… read more
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my wife and I own an LLC as Ten Ent. the entity is run by
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Lane
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I have few tax related questions and would be great if you
I have few tax related questions and would be great if you could answer them for me. Let me present to you the scenario. Let's say, I am currently on H1B visa. I form new LLC with my friend who is US … read more
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Lev
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I am a member in (2) different (multi member)LLCs. On 1 of
I am a member in (2) different (multi member)LLC's. On 1 of my K-1 I have gains, but it does not show up on self employment earning, the other K-1 shows up on my self employment earning. Why does one … read more
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Hi Angela (Tax.Appeal.168) I am inputting the K-1 Worksheet
Hi Angela (Tax.Appeal.168) I am inputting the K-1 Worksheet information for LLC 1065. There are multiple members. Including two couples as tenants by the entirety. Can you help me with filling in thei… read more
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I am preparing a 1065 - Among 6 of the members , I need help
I am preparing a 1065 - Among 6 of the members , I need help with 2 of the members -2 couples have their ownership and MR & Mrs as tenants by the entirety. I know that each spouse of both couples will… read more
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Suppose a family of three sets up a family LLC (F), composed
Suppose a family of three sets up a family LLC (F), composed of three LLC's (A, B, and C) that are each owned by solely a different family member. The family LLC is taxed as a partnership, to allow fo… read more
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A multi member LLC is formed in 2010 to function as the General
A multi member LLC is formed in 2010 to function as the General Partner of a limited partnership. The LLC & LP's principal business activity is real estate. In 2010, the LLC files Form 1065 & its loss… read more
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Hi, Two Business tax questions Partnership How are
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I am a daytrader. I trade futures. I was recommended to form
I am a daytrader. I trade futures. I was recommended to form a LLC for my trading activities. I would like to know if I will loss the tax advantage of 60/40 split from the gains for futures trading if… read more
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Im starting an LLC, with myself as the sole manager and also
I'm starting an LLC, with myself as the sole manager and also a member. Other members will include investors who are to be silent partners. I would like to structure the LLC so if the business makes a… read more
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How do you determine which state or if there is no state ...
How do you determine which state or if there is no state filing for an LLC that made a film. Two guys from CT and one guy from TX form a DE LLC. They go to Maine in 2006 and make a movie. They were in… read more
Merlo
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Dad registered his company as an LLC in 1997, listing his 3 ...
Dad registered his company as an LLC in 1997, listing his 3 adult children and himself as members. The business is seasonal, with different members participating over the years. Dad and any partipatin… read more
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