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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.
Where do I include a single-member LLC owned by an LLC (the parent) on the parent's Form 1065?
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How do I file for a single member LLC owned by an LLC in TurboTax? Where does Form 1065 accommodate that?
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.
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.