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04/19/2013 at 09:23AM PDT
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crazyfortaxes
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03/19/09 3:49pm PDT
Viewed by asker 03/27/09 9:44am PDT

General Partner or LLC Member-manager vs. limited partner or LLC member

What is the difference between a General Partner or LLC member-manager vs. a limited partner or other LLC Member. I have a two member LLC filing the 1065. On the Schedule K-1, it asks me to choose one of these. What is the difference?

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DonL1954
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03/19/09 4:06pm PDT

A general or member managed is normally subject to SE on the ordinary income.

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03/19/09 5:46pm PDT

...and a limited member is not.

I'm calmer now. Whew!
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03/25/09 4:40pm PDT
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What are the rules to determine which category each LLC member falls into?

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