Interest in LLC

Sep 12, 2005 1 Replies
R

I use Quicken 2006 Premier Home & Business. Sometime soon, with some other folks, I'll be setting up a limited liability company in which I'll have a



1/6 interest. I will make a capital contribution and expect to receive periodic cash distributions. What is the best way to set this up to accurately record what goes out and what comes in? Please note that I am not "keeping the books" for the LLC but rather attempting to track the inflows and outflows related to my interest in the LLC. Thanks,

Ross


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H

I've set up LLC interests as a security. Initial capital contribution is first cost, returns are treated as dividends. IIRC they come itemized on a Schedule K-1.

You can set the "value" of each share and number of shares such that the product equals your initial investment.

Then Q will calculate the return just like other investments. Asset value (share price times shares) will remain the same since you are not entering or downloading an updated price.

Howard

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