I have set up a SMLLC for my company and am trading futures for customers. The ones that I manage these funds for are not members of the LLC. I am the only member and the manager. The profit/loss that is derived from these trades is split with them. Do I need to set the percentage that I charge for the profit/loss in my operating agreement of the LLC document? Also, at the end of the year do I provide them a K1 for this or a W2? And one last one, if I do provide them a K1, do they get taxed at the 60/40 as a future transaction?