Question Regarding Distributions
David Reich
Mindy H. Stern
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David Reich
Bruce Steiner
David,
If the members put in the money to pay for these expenses, or if the members pay these expenses directly, how else could you treat them other than capital contributions by the members and payment of expenses by the LLC?
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KLEINBERG KAPLAN |
Bruce D. Steiner Kleinberg, Kaplan, Wolff & Cohen, P.C. 500 Fifth Avenue, New York, NY 10110 T: (212) 880-9818 | F: (212) 986-8866 also admitted in nj and fl |
From: David Reich <david.r...@gmail.com>
Date: June 30, 2025 at 2:24:23 PM EDT
To: nyclar...@googlegroups.com
Subject: Re: [nyclarealprop] Question Regarding Distributions
Reply-To: nyclar...@googlegroups.com
Mindy,
Thank you for reaching out.
In my case, we are mostly talking about school, village and county taxes. We also talking about some accounting fees.
David
On Mon, Jun 30, 2025 at 10:01 AM Mindy H. Stern <mst...@ssrga.com> wrote:
David what circumstances are you describing here? Can you give some specific examples of expenses (paid by whom.and for what) you are thinking should be treated as a capital contribution?
Best, Mindy
Sent from my Verizon, Samsung Galaxy smartphone
Mindy
H.
Stern
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David Reich
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Mindy H. Stern
David I agree with Bruce. Whether they are reimbursed “off the top” or otherwise, if the members pay these expenses it’s hard to understand how they would not be treated as capital contributions.
Best, Mindy
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From: nyclar...@googlegroups.com <nyclar...@googlegroups.com>
On Behalf Of David Reich
Sent: Monday, June 30, 2025 4:08 PM
To: nyclar...@googlegroups.com
Subject: Re: [nyclarealprop] Question Regarding Distributions
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David Reich
Paul Fried
Unless expressly paid as “member loans” under the operating agreement?
Paul M. Fried
Greystone & Co., LLC
152 W. 57th St., 60th fl. NY, NY 10022
Paul....@greyco.com www.greyco.com
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Mindy H. Stern
Sure. But that would require some additional paperwork and terms to clearly distinguish from the other categories as the OA dictates and was not contemplated in David’s question.
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From: 'Paul Fried' via nyclarealprop <nyclar...@googlegroups.com>
Sent: Monday, June 30, 2025 4:49 PM
To: nyclar...@googlegroups.com
Subject: [nyclarealprop] RE: Question Regarding Distributions
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Unless expressly paid as “member loans” under the operating agreement?
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Nancy Gastel
Thanks Nancy (770) 578-1067
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Bruce Steiner
I don’t know what he’s asking. Money is fungible. Unless the operating agreement provides otherwise, the LLCs may use whatever money it has or can borrow to pay for repairs and improvements, or the members may contribute money to the LLC to pay for them.
If he’s asking about the tax consequences of any of this, I or many other lawyers could help him with that.
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KLEINBERG KAPLAN |
Bruce D. Steiner Kleinberg, Kaplan, Wolff & Cohen, P.C. 500 Fifth Avenue, New York, NY 10110 T: (212) 880-9818 | F: (212) 986-8866 also admitted in nj and fl |
From: Nancy Gastel <nan.g...@gmail.com>
Date: July 24, 2025 at 10:04:35 AM EDT
A friend owns some shopping centers and says that he uses the LLC’s dividends from depreciation (in equal value) to pay for repairs/upgrades. His property LLC’s are in a trust. When I asked a seasoned accountant, he could not understand how the dividends could be taken for depreciation and be used for repairs. Do you have any guidance on this. I am hoping to fund a facade renovation.
Thanks Nancy (770) 578-1067
David Reich
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