I have a rental property LLC (disregarded entity) reporting income on Schedule E. Rec'd a 1099-INT with LLC TIN. How do I report this? On Sch B?

[farmsonbob]

Had this property for awhile but set up an LLC this year and moved the property and rents into the LLC which assume is no change as far as the IRS is concerned? Couldn't find a place to include the LLC name and TIN, again assume no problem? Rec'd the 1099-INT for a promotional bonus and if it goes on Schedule B, how does the IRS know my son's SSN and the LLC TIN are related so I don't get a non-reporting notice? Is it because he included his SSN when setting up the LLC? Thanks. Bob

[M-MTax · Accepted solution]

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@farmsonbob wrote:
Is it because he included his SSN when setting up the LLC?

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Yes, the numbers are linked.

[farmsonbob]

Thanks so much!  That's great.  Do you also know if I should report the $400 1099-INT received in the LLC's TIN in Schedule B?  Also that there is nowhere on Schedule E or elsewhere to show the LLC name and TIN?  Thanks again.  Bob

[M-MTax · Accepted solution]

For Schedule E you just enter the name as shown on your return (1040).

[M-MTax · Accepted solution]

Interest income appears on Schedule B which also shows the name and SSN of the individual(s) on the return (1040).

[farmsonbob]

Thank you so much for all your help!  I believe it all makes sense to me now.  Thanks again.  Bob