LLC and LLP owners should befriend the PAL rules
$225.00
Description
Abstract: The IRS has treated owners of LLCs and LLPs as limited partners for purposes of the passive activity loss rules. This could be a tax negative. As this article explains, however, LLC and LLP owners can now be treated as general partners, which means they can meet any one of seven “material participation” tests to avoid passive treatment.
Additional information
| Year | |
|---|---|
| Niche | |
| Newsletter | |
| Issue | |
| Word Count |