martin-kathryn8
Level 1

When setting up an LLC my clients owed someone $100,000. Instead of paying them, they gave them "economic interest ownership" and listed this person's capital contribution as $100k in their paperwork. Since they didn't actually receive $100k how would I handle this? 

0 Cheers
sjrcpa
Level 15

Sounds like a distribution to your client.


Ex-AllStar