t1baker
New Member

Can an LLC whose sole member/manager is another LLC with 2 members be treated as a multi-member LLC, if so, how should this be reflected in Turbo Tax member summary?

 

Business & farm

Based on your facts, the single member LLC owned by the multi-member LLC is deemed a disregarded entity for income tax purposes.  As such, it is treated as if the multi-member LLC had a division and all revenue, expenses, etc. of the single member LLC will just be reported on the multi-member LLC tax return.

*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.

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