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posted Jun 3, 2019 6:29:46 PM

How do I file for a single member LLC owned by an LLC in TurboTax? Where does Form 1065 accommodate that?

This guide from the IRS provides:

If the single-member LLC is owned by a corporation or partnership, the LLC should be reflected on its owner's federal tax return as a division of the corporation or partnership.

https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies

Where do I include a single-member LLC owned by an LLC (the parent) on the parent's Form 1065?

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1 Replies
Level 9
Jun 3, 2019 6:29:47 PM

A Single Member LLC is ignored for tax purposes.

So if it had $1000 of income, just report $1000 of income on the parent's 1065.  If it had $500 of advertising, just report $500 of advertising on the parent's 1065.