You need to contact the attorneys for the transaction and get more facts. In general, an un-vested interest is not considered a partnership interest but usually no $ is paid for those interests so something appears out of ordinary.
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Robert Barnett
CPA, ESQ.
Capell Barnett Matalon & Schoenfeld LLP
JERICHO NY
Original Message:
Sent: 09-08-2016 16:27
From: Allen Hoffman
Subject: Phatom Investment in Startup LLC
I have an LLC that is filing as a partnership. An investment was made in 2015 for $30,000 for a 1.46% Phatom Stock. Although I don't have the information on how and when this LLC interest vests, I need to know how to record it on the books and how to report it on the partnership return. Do I report it as a liability? Or should it be an equity account? How should I title this account? The return is obviously due 9/15/2016 so I need someone's help ASAP. Thanks.
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Allen Hoffman
LAWRENCE HOFFMAN, CPA PC
Roslyn NY
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