Business & farm

An LLC may file either Form 1065 (if filing as a partnership) or Form 1120S (if filing as an S-Corp). Here are the steps for each option to review/edit shareholder/partner ownership percentages (the original question). This assumes NO change in ownership during the tax year.

Form 1065 Partnership

1. Business Info >> Partner/Member Information
2. Edit Partner >> Continue to Membership Percentage page (Profit, Loss, Ownership)
3. Continue back to list of partners >> Done >> Allocation Method (Profit, Loss, Ownership) >> Continue to end.

Form 1120S S-Corp

1. Business info >> Shareholder Information >> Done Entering Shareholders
2. Ownership Percentages (edit as needed)
3. Continue to Shareholder Stock and Debit Basis Limitations (edit as needed)
4. Shareholder Ownership Summary page (edit as needed; same as previous); Done when finished.

@Anonymous 

1065 Screenshot:

1120S Screenshot: