Good evening! I am working on a tax return for a business owner of 3 different LLC's. One he has 100% ownership of a single member LLC, one he has 33.33% ownership of an LLC with three members that all have equal ownership, and another he has a 15% ownership stake in the company.
I am using Turbotax Home & Business for the return. I can see how to enter the information for one business, but not how to do all 3. I am also a little confused where I should pull the income/expense information from. Should it come from his K-1? Or should I take the overall business income/expenses and just divide them by the appropriate business ownership percentage?
Please advise and thank you so much for your help!
