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#2 is member for 3 years only, before that there were other members coming and going, that probably created some of the mess in #1 capital account. When #2 join...
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I can not figure out what to do with #2? If I give 50K income to #1 (to bring his equity to zero), how do I bring #2 ending equity to zero and have zero balance...
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Giving #1 50K to bring ending capital to zero since its final return? Income used to be 70:30 except for last year when it became 100% income to #2, loss 70:30.
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LLC is closing. Two partners: #1 has beginning negative capital account of 50K, #2 has positive of 60K (70%:30% capital share though, not sure how that happened...
