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dmb
A client who is an LLC has several adopting employers. There is K-1 income from one of the employers of over $200,000. The K-1s from the other employers all show losses. Do the losses net out of the $200,000 or can i use $0 if there is a negative earned income on the K-1?? Thanks.
jaemmons
Are each of the adopting "employers" actual members of the LLC?
dmb
I don't think so.
jaemmons
If you have K-1's you must have partners and if you have an LLC the underlying members are generally partners. Are the other "employers" receiving K-1's from the LLC or are they legitimate outside partnerships? I really cannot give you an answer without more details on who the other "employers" are and how the LLC is structured.
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