1298871
I am on the MEMBER CAPITAL entry screen for a multi member LLC.
The business had some investors back in 2011 and each one invested $25,000 at that time, and has not invested any money since.
On the section: "Cash Member Contributed to LLC" should I enter the 25,000 or does this mean to enter how much the member contributed THIS YEAR (2019)?
On the section "Cash Distributions Received from LLC", do I enter the cash distributions in the year 2019 only, or cash distributions received for 2019 and all previous years?
The questions does not say "this year" so it is not clear to me what to put here.
You'll need to sign in or create an account to connect with an expert.
For each individual partner, you would enter last year's ending capital balance.
The rest of the screens relate to the current year, 2019 (e.g., distributions, contributions).
For each individual partner, you would enter last year's ending capital balance.
The rest of the screens relate to the current year, 2019 (e.g., distributions, contributions).
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
CCCD
New Member
abcxyz13
New Member
davsemah
New Member
TaxpayerNoDoubt
Level 1
albuque20
New Member