New answers tagged

0 votes

As a limited partner in an LLC, can my role be considered active?

Line 14 shows "self-employment earnings (loss)", that's the income that is attributed directly to your performing personal services for the LLC. Income reported on that line is similar to ...
user avatar
  • 127k
0 votes

LLC Partnership Foreign Partner

You should not count your wife as a foreign person in this case. Yes turbotax is wrong (IMO), it should ask US person and not citizen. Determining if a Partner Is a Foreign Person A partnership must ...
user avatar
  • 101
0 votes

Should I categorize a cash injection into my 2-owner LLC as an owner loan or owner investment?

Since everybody in comments is agreed, let's make this an answer. If what you expect back is the amount you put in, optionally plus some amount for interest, then it's a loan. That's pretty much the ...
user avatar
  • 29.9k

Top 50 recent answers are included