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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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- Re: If a parent LLC that files a 1065 owns a subsidiary LLC, does the subsidiary file a 1065 and issue a K1 to the parent LLC? If not, how should it work?
If a parent LLC that files a 1065 owns a subsidiary LLC, does the subsidiary file a 1065 and issue a K1 to the parent LLC? If not, how should it work?
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userbrent
Level 1
09-13-2022
05:21 PM
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The parent LLC has two individual members. The subsidiary LLC only has the parent LLC as a member. I am not sure how to enter this in Proconnect.
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George4Tacks
Level 15
09-15-2022
10:15 AM
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Include the income & expense of the subsidiary in the return of the parent. SMLLC is a disregarded entity and can therefore just be reported in the parent.
I would attach a note to the return that all income & expense of xxxxx with ein YYYY is included in this return.
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