Help me complete Form 5472, Foreign Owned Sole Member, Delaware LLC

[joystickstar]

Hello, I have an LLC in Delaware (I am the sole owner and foreigner). I do affiliate marketing. The LLC is not US engaged. The only US payer I have is Amazon INC (Amazon affiliates USA).

I've been watching this video about filling out the 5472 form

and I'm not clear on how to fill out fields 1f and 1h of Part I

nor the attachment referred to in Parts V and VI.

I use my LLC as my personal bank account. I make cash withdrawals and personal expenses with the card. I never transfer money to another bank account.

What should I put in capital contributions and capital distributions? And in fields 1f and 1h?

Thank you.

 

[JackAlabama]

Hello, I have an LLC in Delaware (I am the sole owner and foreigner). I do affiliate marketing. The LLC is not US engaged. The only US payer I have is Amazon INC (Amazon affiliates USA).

I've been watching this video about filling out the 5472 form

and I'm not clear on how to fill out fields 1f and 1h of Part I
View attachment 6254

nor the attachment referred to in Parts V and VI.
View attachment 6255

I use my LLC as my personal bank account. I make cash withdrawals and personal expenses with the card. I never transfer money to another bank account.

What should I put in capital contributions and capital distributions? And in fields 1f and 1h?

Thank you.

cumulated expenses as distribution unless these have been business expenses.

 

[joystickstar]

cumulated expenses as distribution unless these have been business expenses.

So, for example:

+$2000 affiliate program commission -> business income
-$80 hosting -> business expense
-$20 postal address for the LLC -> business expense

Total net income: $1900

---

$400 cash withdrawal for personal expenses -> capital distribution
$100 purchase of personal clothing -> capital distribution
Left $1400 in the bank account as of December 31st -> capital distribution

$400 + $100 + $1400 = $1900 of capital distribution

The result will be:

Capital contributions: $0
Capital distributions: $1900

Is this correct?

 

[JackAlabama]

So, for example:

+$2000 affiliate program commission -> business income
-$80 hosting -> business expense
-$20 postal address for the LLC -> business expense

Total net income: $1900

---

$400 cash withdrawal for personal expenses -> capital distribution
$100 purchase of personal clothing -> capital distribution
Left $1400 in the bank account as of December 31st -> capital distribution

$400 + $100 + $1400 = $1900 of capital distribution

The result will be:

Capital contributions: $0
Capital distributions: $1900

Is this correct?

looks good to me.