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nathan2
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I have a c-corp that's the sole member of a subsidiary LLC. Would tax returns be consolidated under the C-Corp or would I file 2 separate returns? Can I use Turbotax?

I'm basically wondering if I can use Turbotax to file returns for my C-Corp and subsidiary LLC of which the C-Corp is the sole member.  If I can, how can that be accomplished using Turbotax?

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I have a c-corp that's the sole member of a subsidiary LLC. Would tax returns be consolidated under the C-Corp or would I file 2 separate returns? Can I use Turbotax?

Definitely.  You only file a single C corporation tax return.

Since the C corporation is the sole owner of the LLC, the LLC is considered a disregarded entity.  In this context, the LLC is now treated as if it were a division of the C corporation.

Treating this as a division is different than if it were a subsidiary.  If this were a subsidiary, the C corporation would be eligible to file a consolidated tax return.  A division is just included in the C corporation activity and no consolidated return is filed.

Hopefully the above is clear and you understand the difference between the division filing and a consolidated return filing.  Division filing is one single tax return.  A consolidated return filing is multiple company returns that get pulled into one single consolidated tax return.  The consolidated tax return filing is much more complicated.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

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3 Replies

I have a c-corp that's the sole member of a subsidiary LLC. Would tax returns be consolidated under the C-Corp or would I file 2 separate returns? Can I use Turbotax?

I highly recommend you seek professional assistance to get educated in how the returns need to be filed and see what state rules also apply.   Once you know how it needs to be completed the Turbo Tax program may be an option.

I have a c-corp that's the sole member of a subsidiary LLC. Would tax returns be consolidated under the C-Corp or would I file 2 separate returns? Can I use Turbotax?

TT Business will not run on a Mac.

I have a c-corp that's the sole member of a subsidiary LLC. Would tax returns be consolidated under the C-Corp or would I file 2 separate returns? Can I use Turbotax?

Definitely.  You only file a single C corporation tax return.

Since the C corporation is the sole owner of the LLC, the LLC is considered a disregarded entity.  In this context, the LLC is now treated as if it were a division of the C corporation.

Treating this as a division is different than if it were a subsidiary.  If this were a subsidiary, the C corporation would be eligible to file a consolidated tax return.  A division is just included in the C corporation activity and no consolidated return is filed.

Hopefully the above is clear and you understand the difference between the division filing and a consolidated return filing.  Division filing is one single tax return.  A consolidated return filing is multiple company returns that get pulled into one single consolidated tax return.  The consolidated tax return filing is much more complicated.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
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