cpabsd Posted March 22, 2008 Report Share Posted March 22, 2008 I'm confused on which member, if any, should be put here. The entity is an LLC. I read the 1065 directions, but am still not sure. Any guidance on how to determine if one of the members should be put here? Quote Link to comment Share on other sites More sharing options...
mcb39 Posted March 22, 2008 Report Share Posted March 22, 2008 I'm confused on which member, if any, should be put here. The entity is an LLC. I read the 1065 directions, but am still not sure. Any guidance on how to determine if one of the members should be put here? It doesn't matter which one it is. Obviously, it is usually the one who has the most control and knowledge in regard to the bookkeeping and management of the LLC. Or, you could choose the one with most capital investment. Or, let them choose which member they want. Quote Link to comment Share on other sites More sharing options...
michaelmars Posted March 22, 2008 Report Share Posted March 22, 2008 I BELIEVE ITS ONLY necessary to pick one if over 10 partners Quote Link to comment Share on other sites More sharing options...
mcb39 Posted March 22, 2008 Report Share Posted March 22, 2008 I BELIEVE ITS ONLY necessary to pick one if over 10 partners I don't think that is quite right. I have 2 LLCs with 3 partners each.; and they have to choose one. It is really redundant as it is just the person who is chosen to sign the return for the Partnership and, I suppose, answer the call of the IRS if there should be one. Quote Link to comment Share on other sites More sharing options...
michaelmars Posted March 22, 2008 Report Share Posted March 22, 2008 THEY gotta b subject to consolidated audit proceedure ie over 10 partners Quote Link to comment Share on other sites More sharing options...
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