323
 
New Member

llc membership

10/25/09 6:09 PM
Total Views: 66

If my husband and I buy a commercial building together to rent out and form a LLC, is there any benefit by making it a single member vs. both of us owning it?

 
 
Subscribe RSS
 
 
All Replies:  Answers (2)  
Certified ProAdvisor
 
Rating 0

Answer

10/26/09 6:00 AM

I think that's a question for your tax accountant.  State laws can vary so much on LLC structure, I wouldn't hazard a guess.

Deni

 
 
 
New Member
Rating 0

Answer

11/1/09 5:01 AM

One benefit of forming it as a single-member LLC is that you would put the income and expenses on your 1040 Schedule-C rather than having to file a partnership return.

 
 
 
 
 
Subscribe RSS
© 2009 Intuit, Inc. All rights reserved. Intuit and QuickBooks are registered trademarks of Intuit, Inc.
Terms and conditions, features, support, pricing and service options subject to change without notice.