Last year I was able to enter K-1 information for a single member LLC using the LLC's employer id number and name. There was a separate place on the form for the member's name and social security number. This year I get an error message if I show the shareholder as a single member LLC and enter the name of the LLC instead of the name of the shareholder. The single member LLCs that carried over from last year don't have this issue. I called support and they said I cannot enter the name of the LLC without creating an error message. Has anyone else had this issue? It makes no sense. I believe it is a programming issue they don't want to fix, or an IRS requirement and they haven't changed the program to require the prior year info to be changed.
It SOUNDS LIKE you have an 1120S or a 1065 which has a shareholder or partner(aka member) who is a SMLLC. Is this correct?
And the software for the entity (120S or a 1065) is telling you that you cannot enter one of the owner/members as a SMLLC?
Well, since the owner of the SMLLC is a person(individual), that owner is effectively an individual. Where does this income/loss go on the ultimate member's 1040? Sch E, page 2.
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