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Updated almost 6 years ago on . Most recent reply
taking money from an s-corp to an disregarded entity llc
i made around 8k on my s-corp and i took that money out and put it into my llc how would i have to report it?
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Ashish Acharya
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
Tax & Financial Services
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#2 Tax, SDIRAs & Cost Segregation Contributor
- CPA, CFP®, PFS
- Florida
Originally posted by @Char Bacheh:
i made around 8k on my s-corp and i took that money out and put it into my llc how would i have to report it?
Generally,
Distribution to yourself on your Corp’s books. Decrease cash, increase your distribution.
Contribution from you on your LLC's books. Increase cash, increase your capital account.
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