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elizabeth-birdse
Level 2
February 14, 2020
Solved

How would you decrease a member's capital account on Schedule K-1 if they abandoned their LLC interest? Would this go under "other increases (decreases)"? If so, what would the statement attached include?

  • February 14, 2020
  • 1 reply
  • 14 views

Would the additional statement just say, "Member abandoned interest"?

 

Thank you.

This topic has been closed for replies.
Best answer by sjrcpa

Other decrease and your explanation sounds fine.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
February 14, 2020

Other decrease and your explanation sounds fine.

The more I know the more I don’t know.
    E
    elizabeth-birdseAuthor
    Level 2
    February 14, 2020

    Thanks so much! You answered both of my questions. Is there any way I can buy you a coffee? 😃

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