turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

M24
New Member

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?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

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?

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.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies