2856846
Very elementary question here. My first time filing a Single Member LLC as a Disregarded entity for a Rental House. How does that work on the tax return? I know that the Sch E files the same if in my own name. Does the LLC name of the EIN number appear anywhere on the Sch E?
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No. Instructions for Schedule E (Form 1040) state:
Single-member limited liability company (LLC).
In most cases, a single-member domestic LLC is not treated as a separate entity for federal income tax purposes. If you are the sole member of a domestic LLC, file Schedule E (or Schedule C or F, if applicable). However, you can elect to treat a domestic LLC as a corporation. See Form 8832 for details on the election and the tax treatment of a foreign LLC.
No. Instructions for Schedule E (Form 1040) state:
Single-member limited liability company (LLC).
In most cases, a single-member domestic LLC is not treated as a separate entity for federal income tax purposes. If you are the sole member of a domestic LLC, file Schedule E (or Schedule C or F, if applicable). However, you can elect to treat a domestic LLC as a corporation. See Form 8832 for details on the election and the tax treatment of a foreign LLC.
I think this also answers my very similar question. I just want to verify I got it right. I put my single entity LLC EIN info in TurboTax. A 1099-NEC was issued to that EIN. The data was transferred to a Schedule C but shows the SS # not the EIN on the top right of the schedule C. No EIN is shown. Is this correct?
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