How will I report my taxes from my Parent Series LLC?

The Series LLC structure we use is either a disregarded entity (individual or spousal ownership) or is classified as a partnership (if two non-spouse co-owners). A disregarded entity will simply report the income on the Schedule E of the personal income tax return of the solo owner. If there is non-spousal co-owners, then a partnership return must be filed on behalf of the LLC. In a community property state, the husband and wife can be listed on the entity and it is treated as a disregarded entity. In a separate property state, a husband and wife being listed on the entity can result in the necessity for a partnership return for the LLC.