Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago on .
Most recent reply
presented by
Single Member LLC Capital Contributions
I have a Single Member LLC where i have gave an initial capital. I do cash based accounting.
My question is since the initial capital doesn't count as income correct? then when i transferred a portion of the initial capital back to my personal account would that not be taxable and count as "Owners contribution/entity".
Then since i only took around 75% of my initial capital back to my personal account i would have P&L which i would file a schedule C and use on my personal tax return correct?