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What information do I put into Enter Capital Account Information? I have a new LLC started by me and my brother and not sure what would be listed in the Opening Capital
I am filling in the section for Enter Capital Account Information for a LLC based partnership that I received a K-1 for. Its asking for Opening Capital Account, Capital Contributed During 2020, etc., Ending Capital Account.
I am not 100% sure what to put into these fields. While I did pay for the LLC formation and put $100 into opening a bank account, that is about all the money I put into the business, the other partner put in $5 for his ownership in the business.
What am I supposed to put in these places. Thanks in advance
I am not 100% sure what to put into these fields. While I did pay for the LLC formation and put $100 into opening a bank account, that is about all the money I put into the business, the other partner put in $5 for his ownership in the business.
What am I supposed to put in these places. Thanks in advance
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‎February 17, 2021
7:17 AM