USA Single Member LLC owned by A C Corp


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Client comes with a single member LLC that owned by a C Corp, so do not have any experience with that filing, so what should i do?

Is it a correct way to put 1120 Sch K part 5 to that LLC information or any idea?
 
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Oct 4, 2022
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Hi @nitaxim - I know this reply is a bit late, but the “default rules” for domestic single-member LLCs are that it is “disregarded” and treated as part of the owner’s tax return.

All of the income and expenses would be combined with the parent C Corporation. Additionally, you would just list the entity and its EIN as part of the listing of entities the Corporation owns.

Other than that, I don’t think there is generally much else to do. Of course - don’t forget the franchise tax return or annual report required for the LLC (unless part of a consolidated filing).
 

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