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M
maui doug
Level 3
September 17, 2024
Question

S Corp with 4 dba LLC companies

  • September 17, 2024
  • 1 reply
  • 8 views

My client has a S Corp with 4 dba LLC companies under the S Corp

How do i enter these 4 separate Profit & Loss statements in the 1120S tax return

    This topic has been closed for replies.

    1 reply

    rbynaker
    rbynaker
    Level 13
    September 17, 2024

    You don't.  Assuming these are all single-member LLCs that are disregarded entities I would consolidate them in a spreadsheet first and then enter the totals on the 1120S.  These may or may not constitute separate activities for QBI reporting purposes so you might have to do something squirrelly with that.

    Rick

      M
      maui dougAuthor
      Level 3
      September 17, 2024

      So add all the totals together and enter them on the 1120S.

      Thank you!

        sjrcpa
        sjrcpa
        Level 15
        September 18, 2024

        Yes. And eliminate the intercompany items, if any.

        The more I know the more I don’t know.
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