Loaning your own money to your own LLC?

[Account Closed]

After flipping a few properties and acquiring some buy and holds on my own I opted to start a LLC. However the LLC currently has no funds in the account and the bank told me that if I was to transfer any of my own money into the account the IRS would view that as "income". I could how ever "loan" my money to my LLC then pay it back to myself. So my question would be what would be needed to do something like this? Has anyone done this themselves, and if so how did you do it for tax purposes? Is it just as simple as making a note on a piece of paper with the amount loaned, any interest if added in there, and sticking into the recorder?

Thanks for any help or tips

[Cameron Skinner]

that's not true! Don't take accounting advice from a banker, it's called a "contribution of capital" and is not taxable, you can put 100 million in your LLC this year, to fund a future skyscraper next year, you don't pay tax on the 100 million, you only pay tax on any profits. now it is true if you ever audited and you don't keep good records of the money you personally put in your company irs might assume all deposits are revenue (sales or rents).