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- 1065 and Wefunder SPV (Crowdfunding)
1065 and Wefunder SPV (Crowdfunding)
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msouvenir
Level 1
03-22-2023
10:13 PM
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- I have a client that is setup as a partnership and has to issue a k-1 to Wefunder for crowdfunding investments. Now the k-1 that needs to be issued to Wefunder has shares but there is no partnership profit or loss %. How would I enter shares issued with no partnership ownership into Proseries? Or would I have recalculate % based on the shares issued from the partnership? Fyi: Wefunder SPV
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qbteachmt
Level 15
03-23-2023
12:33 PM
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"How would I enter shares issued with no partnership ownership into Proseries?"
Something is wrong, here, and there seems to be some bad guidance.
A Corporation issues shares. LLC does not have stock. LLC would have units of interest. Not shares. A Partnership has partners. You are not a Partner without Ownership, because that is the definition. Perhaps they have Classes of membership?
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