- Clarify "I transferred some stock - shares and cash into a brokerage account"
- I transferred stocks and cash from my trust brokerage account into my LLC brokerage account
- Additionally, if you contributed items to the LLC, was this in relation to your initial funding of the LLC?
- LLC was formed in May 2023 and initial funding was made at that time. These transfer of stocks and cash from my trust brokerage account happens only last week, 1st week of Oct 2024
- Regardless of what the IRS requirements are for providing the balance sheet information on a tax return, a business should generally maintain a balance sheet. This provides important financial information, especially in a multi-member LLC environment.
- Yes I fully agree.
- This LLC partnership only has 2 members [1] Myself [2] SMLLC taxed as C-corp (I am the owner).
‎October 7, 2024
5:31 PM
