turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Rental Income

I have three rental properties. In the past, I used to file the information on Schedule E. However, in 2023, I established a LLC and transferred the properties to LLC. Given that the income from these are now under LLC, should I file the income on Schedule C?  If not, what forms do I need to file for a Rental LLC?  Thanks

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MarilynG1
Expert Alumni

Rental Income

Where you enter rental activity depends on the type of LLC and its members. Single-Member LLCs (SMLLC) most often file rental activity on Schedule E as part of Form 1040 (a personal tax return). Members may be one member or a married couple living in a community property state.

 

However, if you provide "substantial services" to your tenants or your real estate business generates rental income, use Schedule C: Profit or Loss from Business. If you report rental income as Self-Employment Income on Schedule C, you will pay self-employment tax.

 

Here's more info on LLC Rental Activity.

 

@reza052759 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies