jeffmcpa2010
Level 11
03-24-2021
11:17 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Are there any owners of the llc's other than Mom?
If yes you must follow the LLC agreement regarding allocation of profits and losses, or if nothing is specified than they must be allocated based on ownership.
If she is the only owner, than they go straight to Schedule E as disregarded entities.