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Updated about 7 years ago,
Active income LLC tied to a Solo K also used for passive income
Hi everyone, there's something I'm still confused about after talking to different people and reading through BP posts. I have a Solo K tied to an LLC, taxed as an S-Corp, that I set up for active income purpose - meaning I'd like to contribute active income from the LLC into the Solo K. Can I also use that income to generate passive income by buying rentals? Or should I have 2 different Solo Ks? In the future, if I also plan on creating a separate LLC for passive income purpose - can the 2 LLCs co-use the single SoloK? Or should I, in the future, have 2 LLCs and 2 SoloKs - one each for active, one each for passive?