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tillieburke
Mar 11, 2012, 05:09 PM
I have a situation I need help on –



Company, Inc. Is owned by Charlie.

Charlie uses check from Company, Inc to use toward purchase of building for Company, LLC – owned by Charlie with a bank loan to LLC



How do I report on books?

How do I report to pay least amount of tax?

Can I make it a loan? Or Is it a advance of income?

Does it really matter as both Company, Inc. And Company LLC would show up on Charlie's tax return?



Please advise –

Thanks