I am preparing a 2019 tax return for a multi-member LLC, and have a few questions to be sure I am accounting and filing correctly.
- The LLC began in May 2019, but the member contributions started in 2017 before the LLC was formed. The first tax filing is for 2019, so do I show those contributions in 2019? If not, how do I show them?
- One member made subsequent contributions later on, and I want to know if this affects the % membership for each member, or if that stays the same regardless of additional contributions.
