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Level 2
posted Sep 11, 2023 8:13:03 PM

We're filing our personal taxes. Her LLC received outside investor funds through a convertible note (SAFE). How do we report that on our tax return?

We got married at the end of 2022, and are filing a joint return. She owns an LLC (a software startup) that received outside investment via convertible SAFE notes.  Where in TT should we enter that information?

0 2 567
2 Replies
Level 15
Sep 11, 2023 8:21:41 PM

What kind of LLC is it?  A Single Member LLC?  Did she elect to be a S corp?  

Level 2
Sep 12, 2023 9:22:21 AM

Hi, yes, a single member LLC. Not an S corp.

 

Thanks!