Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 07-30-2014, 10:57 PM
Junior Member
 
Join Date: Jul 2014
Posts: 1
change of ownership for multi member llc

I have a situation that member 1 bought member 2 of the LLC. I am showing capital contribution for member 1 and increasing his % and withdraw for the member 2 who is selling his interest on K-1 for form 1065. This is resulting into negative ending capital balance for member 2.
How do I make ending balance to zero for member 2 as he is no longer partner of this LLC.

Thanks in advance for the help.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
 



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
S Corp Ownership change rosa S-Corporation 5 08-04-2014 02:46 PM
Multi-member LLC/Partnership for real estate brokerage... realestatebroker Limited Liability Company 0 07-27-2014 12:02 AM
Please help-family owned S Corp ownership change rromero84 S-Corporation 1 12-15-2012 04:36 AM
What arguments can be put forward to waive the Late Filing penalty for a Multi Member LLC tax return that was filed 10 months late? PeterAccountant CPA Forums 1 02-08-2012 07:54 PM
Can a taxpayer who registered as a 1 member LLC file a 2 member LLC if he has found a partner during the year? JimBestTaxman CPA Forums 0 04-10-2011 01:59 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.