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Business & farm
Don't get hung up on the nomenclature. The LLC is taxed as a partnership so should be fine.
Possibly @ColeenD3 has better insight into a different handling, however, at the end of the day you reach the same tax result.
*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.
Also keep in mind the date of replies, as tax law changes.
‎February 23, 2021
5:41 PM