RobertB4444
Expert Alumni

Get your taxes done using TurboTax

1. The Multi member LLC files in Virginia and receives income from the C corpwhich files in Oklahoma.  If the C corp pays taxes in Oklahoma then that is all that needs to be done.  If the C corp passes the income through to the LLC then the LLC will need to file in Oklahoma as well.

 

2. The crypto mining equipment was purchased by the C corp which is where it will be depreciated.  What federal forms it should file depends on how you have set it up - it will either file form 1120 or form 1120-S.

 

3.  It should begin depreciation in the year of purchase.  You won't qualify for any bonus depreciation since you have no income from the equipment yet.

 

@M_Spence 

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