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I formed an LLC this past year where the ownership of the LLC is split 50/50 between me and my partner. When we created a bank account, my partner put in $400 and I put in $0. Besides the interest accumulated, does any of this $400 show up as income on my personal taxes or on the state tax?

  • Since you didn't mention your country, I'm guessing you're from the US. It is suggested to mention your jurisdiction when you're asking questions about laws, as those differ from place to place. – littleadv Feb 20 '14 at 22:56
  • Yes, the US. My state is Texas. – Rich Feb 20 '14 at 23:06
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No, it will show on the LLC tax return (form 1065), in the capital accounts (schedules K-1, L and M-2), attributed to your partner.

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