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If the LLC is entirely owned by your son and the LLC has not elected to be taxed as a Sub-S or C-Corp, then the activities of the LLC should be reported in your son's federal income tax return. The activity will show up on Schedule C and the "net income" of Schedule C will flow to line 12 of Form 1040.
Tom Young
If the LLC is entirely owned by your son and the LLC has not elected to be taxed as a Sub-S or C-Corp, then the activities of the LLC should be reported in your son's federal income tax return. The activity will show up on Schedule C and the "net income" of Schedule C will flow to line 12 of Form 1040.
Tom Young
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