LLC MultiMember LLC - Federal Tax Form 1065 - How to report STOCKs

Forum|Forum|3 years ago
March 30, 2023
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I recently setup 2 member Partnership LLC.

I have moved say 100 shares of MSFT from personal bkg account to LLC - Brokerage Account.

I have not sold the Shares and is still in the bkg-Acct.

How do I report SHARES in Form 1065 under Schedule M-2 (Analysis of Partners Capital Accounts)

Do I have to report Beginning of Year-Share-Value and Year-End-Share value though it was not sold ?

When generating Schedule-K-1, Do I have to report Dollar Value of the Shares or Just the Number of shares ?

Which software would one recommend to file 1065 and K-1's ?

TurboTax Business Windows

ThomasM125

The beginning balance would be $0 since you set up the partnership during the year. On Schedule M-2, you would list the value of the shares contributed on line 2(a) Cash, which would flow down to line 9 Balance at end of year. You would report the value of the shares on the K-1 schedule.

You can use the TurboTax Business program to prepare the form 1065 and schedule K-1. Here is a link to where you can purchase and download it: TurboTax Business download

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