3663498

LLC sold off a property. a member was given the entire $225,000 check. is this counted as a distribution?

posted

Connect with an expert

1 Reply

LLC sold off a property. a member was given the entire $225,000 check. is this counted as a distribution?

Yes, you would report the sale on the partnership return and then make an entry for the distribution to the partner.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post