Jump to content
ATX Community

Tax basis of member in LLC recourse debt


ZukaAdam

Recommended Posts

Hey all -- two-member LLC (LLC A) with long-term recourse debt (promissory note).  The two members of the LLC (LLC's B and C) are also LLC's, each of which has two individual members.

 

Does recourse debt of LLC A add to tax basis of LLC B and LLC C as members of LLC A?  Does the fact that LLC's B and C have both elected to be treated as S corps for tax purposes negate any possible tax basis these two LLC's may have in the recourse debt owed by LLC A?

 

Appreciate your insight and expertise.

-Adam-

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...