Single-member LLC issued a partnership k-1
Background info:
- Client is the sole member of a single-member LLC.
- Single-member LLC is a partner in another LLC.
- The multi-member LLC issues 1 K-1 to client's single-member LLC.
- K-1 includes rental and ordinary business income.
- Single-member LLC has an EIN.
My questions:
- Should the K-1 rental income be entered into the Sch E screen and the business income into the Sch C screen?
- Or should all K-1 income info be entered into the partnership k-1 screen?
Thank you!
