turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

magjor
New Member

Can a husband and wife have different shares in an LLC?

We have a multi-member LLC with three members: myself, my wife, and a third partner. In a situation like this can my wife and I have different shares (percent ownership) in the same LLC? For example, is it okay for my wife to own 60%, while me and the third partner each own 20%? 

The reason I ask is because husband/wife issues like this can be a bit tricky as far as the IRS is concerned... I could imagine a scenario where the IRS would force married couples to have equal shares in an LLC because married couples sometimes seem to be treated as "one person" as far as the IRS is concerned.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DDollar
Expert Alumni

Can a husband and wife have different shares in an LLC?

There is no problem with your wife and you having a different ownership percentage in the same LLC.  You will each receive your own K-1 which represents your individual ownership interest.

View solution in original post

1 Reply
DDollar
Expert Alumni

Can a husband and wife have different shares in an LLC?

There is no problem with your wife and you having a different ownership percentage in the same LLC.  You will each receive your own K-1 which represents your individual ownership interest.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies