LLC - Form 1065 - Schedule B-1, Part II Hello All,
I have an LLC owned by Husband (51%) and wife (49%).
Based on the family attribution rules, I have to show both as 100% in column (iv) of Part II of Schedule B-1. (so, there will be 2 entries for 100% ownership - one for H and one for W)
Is this understanding correct? If yes, then could anyone provide me the reference or citation or code section that I can read online on some website, to save in my workpaper file?
Thanks in advance,
Sammie |