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  • 1.  k-1 for single member LLC

    Posted 09-29-2016 12:01 PM

    Single member LLC with no transactions in 2015 receives a K-1 -- from an investment made by the LLC years ago --line 1 -- ordinary income (loss) of (30,000).

    ?? Where on Schedule C?? should that ordinary loss be reported ???

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    Henry Feldman
    CPA
    HENRY A. FELDMAN, CPA
    New York NY
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  • 2.  RE: k-1 for single member LLC

    Platinum Most Valuable Member
    Posted 09-29-2016 12:37 PM

    I would think it is reported on Sch E  as if the individual reviewed the K-1  in their own name

     

     

    Abby Alhante,  CPA

     

    Kurcias  & Alhante, LLC  CPAs

    525 Broadhollow Road   Suite 104

    Melville NY  11747

    516.829-5890  Fax 516-829-3976

    Mobile 516-381-9301

    AbbyA@calldcap.com

    ( E mail response preferred )

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  • 3.  RE: k-1 for single member LLC

    Bronze Most Valuable Member
    Posted 09-29-2016 12:39 PM

    I agree

     

     

     

     

     

    Vincent J. Preto, CPA

    Senior Partner

    Wagner & Zwerman LLP

    450 Wireless Blvd.

    Hauppauge, NY 11788

    Tel. (631) 777-1000 Ext. 340

    Fax  (631) 777-1008 

     

     

      logo-wagner-zwerman2                 image005.png@01D1E40C.9CB93920              images                          

     

     

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The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity and shall not constitute an accounting opinion.