I have a Texas Holding Company LLC (partnership) that solely owns an Alabama subsidiary LLC which owns rental properties in Alabama. My understanding is that all income/expenses flow up to the Holding Company LLC. When Turbo Tax Business asks me which state(s) the Holding Company does business in, do I only specify Texas, Alabama or both?
If you are doing one tax return to cover the Texas holding company as well as the subsidiary then you need to include all of the states that you and the subsidiary do business in. In your case that includes Alabama.
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