Business & farm

Thanks for your reply.  This sounds good- I'll enter in box D 100.  I'll enter in box H 49 for me and 51 for my wife corresponding to our percentages in box G.

 

I hope it will be obvious to the IRS what's happening because our name in box B has 'LLC' after it.

 

And I think the 1120-S K-1 instructions should have a paragraph or so treating LLC's that have elected S-Corp status.  If you search the instructions for 'LLC' there are no hits :-(.