Which one would I select in the Ownership in other businesses section of the uncommon situations if I own 25% of 2 LLC's?

Forum|Forum|1 year ago
March 13, 2025
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Owns at least 20% directly or 50% indirectly of any foreign or domestic corporation's total stock OR Owns at least 20% directly or 50% indirectly of the profit, loss, or capital interest in any foreign or domestic partnership or trust

DaveF1006

If you own 25% of the profit, loss, or capital interest in two LLCs, the second option would likely apply: "Owns at least 20% directly or 50% indirectly of the profit, loss, or capital interest in any foreign or domestic partnership or trust."

This is because LLCs are commonly treated as partnerships for tax and reporting purposes when they aren't classified as corporations.

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