Hi,
I have a client that started up a single member LLC last year that is owned solely by his S corp. All income and expenses flowed through the SMLLC. I'm assuming we just run these figures through the S corp being that the SMLLC is a disregarded entity. Does anyone know if there's a spefic form or way to notate this to the IRS on the 1120S?
Thanks!
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I always attach an additional statement explaining the SMLLC owned by the entity, reporting also their name and EIN. No clue if it's ever read but never had a problem doing it this way.
This doesn't make sense. Are you sure he didn't file an S Corp election for the SMLLC ? Or is the SMLLC a shareholder of the SCorp?
Are you sure he didn't file an S Corp election for the SMLLC ? Yep, that's not the case.
Or is the SMLLC a shareholder of the SCorp? Scorp is the only SMLLC member
I always attach an additional statement explaining the SMLLC owned by the entity, reporting also their name and EIN. No clue if it's ever read but never had a problem doing it this way.
The idea was to have different operations under one parent company. The line of business is the same. Not sure what you mean by OP's treatment?
OP = Original Poster (or Post) = you.
I meant that your treatment makes sense.
Apparently I am not making sense today.
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