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Business & farm
@leapwellcomics wrote:
Do I sell it from myself to the LLC for $10? or for $100?
For federal income tax purposes, your single-member LLC (without an election to be treated as a corporation for federal income tax purposes) is essentially the same as you, individually; you do not sell anything to your single-member LLC.
You do, however, need some sort of documentation to establish what you paid for items you are selling. without which the IRS will consider that you paid $0 for them.
‎October 4, 2021
2:36 PM
1,399 Views