LLC's for the most part don't have what you would really call shares. They are more aligned with what a partnership has which is ownership percentages, so it would be 100%. So it is not really a fib or workaround you are just adapting your daughter's entity to the pre-existing reporting forms. I do not know if you were involved with the S-election but on the Form 2553 it asks of each owner shares or percentage of ownership. If your daughter would ever share interest in her S-corp in the middle of the year you would have to calculate the return twice, first the time frame she was sole owner and second during the time frame of the shared ownership.
