Hello,
I don't understand details here. Please clarify my questions. I have a 4 member LLC that has a K1 available. All 4 members are LLC owners too.
1. Do we need individual K1s created from the LLC for our personal tax returns or can we just use the LLC K1 to file our tax returns?
2. If we need to generate individual K1s, which tool do I need for this purpose?
3. All 4 members are from different states and the LLC is in one of the members state. Does this create any complexity for K1s creation?
Appreciate the help.
Thanks
B
