LLC's taxed as partnerships are complicated and difficult to address when not in a face to face situation. So hopefully my final questions are as follows:
1) Where was the LLC organized (this is the legal step of setting up with the state. This is different that just registering to do business in a state)?
2) In 2016 did you both make capital contributions?
3) At the end of 2016 what were each of the capital account balances?
4) No debt from any outside sources; banks, etc?
5) Assume you filed a VA return as well?
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
