Our club was established as an LLC instead of a partnership.
I took over as treasurer and in previous clubs I was a
member of I have always been familiar with the schedule K1
and 1065's. As an LLC can we still distribute income and
expenses via K1 and 1065 or do we have to file differently?
Any advice gratiously accepted.

Keith Glenn wrote:
> Our club was established as an LLC instead of a partnership.
> I took over as treasurer and in previous clubs I was a
> member of I have always been familiar with the schedule K1
> and 1065's. As an LLC can we still distribute income and
> expenses via K1 and 1065 or do we have to file differently?
> Any advice gratiously accepted.

Hi Keith..

You handle the transactions the same as a partnership usng the 1065 & K1.
If you Bivio for your tax returns it will do the whole job quickly and
easily.


Arthur Klages
Treas., Senior Investment Club LLC
Greensboro NC

-----Original Message-----
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Keith
Glenn
Sent: Wednesday, January 07, 2009 3:56 PM
To: club_cafe@bivio.com
Subject: club_cafe: Club established as LLC

Our club was established as an LLC instead of a partnership.
I took over as treasurer and in previous clubs I was a member of I have
always been familiar with the schedule K1 and 1065's. As an LLC can we
still distribute income and expenses via K1 and 1065 or do we have to file
differently?
Any advice gratiously accepted.