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martin-kathryn8
Level 2
September 14, 2020
Question

Member Capital Contribution

  • September 14, 2020
  • 1 reply
  • 5 views

When setting up an LLC my clients owed someone $100,000. Instead of paying them, they gave them "economic interest ownership" and listed this person's capital contribution as $100k in their paperwork. Since they didn't actually receive $100k how would I handle this? 

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1 reply

sjrcpa
sjrcpa
Level 15
September 15, 2020

Sounds like a distribution to your client.

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