First year filing, I am the Manager and 99% owner of a multi-member LLC (with my brother owning 1%) - let's call it Company A. Company A currently only has income/loss from a wholly-owned subsidiary - Company B - which owns a residential rental property.
My understanding is that I only need to file 1 filing in the name of Company A.
As it is a consolidated filing in the name of Company A, do declare "we rent real estate to others" even though it is indirect?
Also - do I line item expenses incurred and income from Company B in TTB just as if those were incurred directly for Company A?
Thanks in advance.
