I am on the member capital page and want to ensure I enter everything correctly.
I have a mobile detailing multi-member llc partnership.
1.) Cash Member Contributed to LLC
-Do I add up all the money spent on the tools (generator, carpet extractor, polishers, chemicals, towels,supplies, licenses/fees, and business insurance?
2.) Property Member Contributed to LLC
-Or is this where I put the total of everything I mentioned above such as towels/ chemicals/ tools?
3.) Cash Distributions Member Received from LLC.
-If all the money made from the business went directly to me, is there where I enter it?
4.) Property Distributions Member Received from LLC
-No idea what this means.
Thank you in advance for any advice!!!
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Cash means cash...money...you contributed. Property means assets like values of the generator, extractor, polishers, that you contributed. Cash distributions means the cash...money....paid out to the member. Property distributions means property distributed as property to the member.
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