If you have an S-Corp with a subsidiary LLC consulting company, are the LLC's income and expense numbers reported on the S-Corp's tax return (1120S)? The S-Corp is just a holding company and does not have any real operations? So would the LLC's income and expenses flow through the S-Corp for tax purposes?

Thank you!

“If you have an S-Corp with a subsidiary LLC consulting company, are the LLC's income and expense numbers reported on the S-Corp's tax return (1120S)?”---->Correct as a parent S corp. An S corp owning an LLC is legal. An S corp may own up to 100 percent of an LLC. but an LLC may not be a shareholder of an S corp. (I would qualify that to say that a SMLLC which has not elected to be treated as a corporation for tax purposes may be an eligible S corp s/h, since for tax purposes the SMLLC is in this case a disregarded entity.)The IRS places restrictions on who can own an S corp, but there is no restriction on the type of company an S corp can own.An S corp can acquire another S corp/LLC/ C corp(However, there are tax implications of owning a C corporation, namely double taxation.)or etc owning 100 percent of the stock, and elect to turn it into a qualified subchapter S corp known as a QSub. A QSub can still do business yet will not file a tax return since all profits and losses are combined with the parent S corp finances.
“ The S-Corp is just a holding company and does not have any real operations? So would the LLC's income and expenses flow through the S-Corp for tax purposes?”---->I guess so; holding companies and the companies they control have a parent-subsidiary relationship. When a holding company owns a controlling interest in another company, the holding company is called the parent company and the controlled company is called the subsidiary.

Thanks for your input. The parent company (S-Corp) formed 2 subsidiaries (both LLCs) in different industries. One is in consulting, and the other is in data management. This is the reason behind the corporate structure. I am trying to complete the 1120S and Schedule K tax return for the S-Corp, and to determine what to report in Income and Deductions sections.