I have a Holding Co, LLC that is owned by a husband and wife by entirety
That Holding Co owns two other LLC Co - Co A and Co B
Co A is a small commercial building and Co B is a Salon in that building.
Since Co A and B are wholly owned by Holding Co I will assume they are disregarded for tax purposes and as such I will not report anything to IRS for either A or B as individual entities.
Can I also assume I will only enter information for the Holding Co in turbotax and report the combined activity for the real estate Co A and the Salon Co B subsidiaries.
These are very small entities and I am trying to keep it simple. Any links or suggestions would be appreciated. Also feel free to write long responses 🙂
In Summary how do I handle these 3 entites in TT...
