Is this a multi-member LLC or a single member LLC?
If this is a multi-member LLC, then you need to determine how to adjust for a book / tax difference (known as an M-1).
If a single member LLC, then you will just have this difference or make a decision on how you want your books and records to be maintained or maintain two balance sheets.
*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.
