My LLC is set up in order to invest in another LLC. Should I record an asset at year end for my investment in that other LLC? If so, how much is the amount of my asset?

posted

Yes. Your investment figure is what you contributed to that LLC.

The entry would be:

Dr. Investment in LLC

Cr. Cash

*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.

Do you have an Intuit account?