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Level 1
May 27, 2021 4:44 PM UTC
Question

FUNDING LLC

I put too much of my own money into my newly created LLC. At this point I have not had any earnings to deposit. 
Can I take back half of what I put into it without penalty?

1 reply

M-MTax
Level 15
May 27, 2021 5:30 PM UTC

You can take as much as you want back without a penalty.....it's your money and unless you made an election for the LLC to be treated as a corp or have another member the LLC is disregarded.