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marymoo49
New Member

Where do I add in an LLC that I open in 2018?

I opened an LLC in May of 2018 and placed my 5 house rentals in to it. Now how do I add this to my 2018 taxes? Additionally I live in the same state that I own the 5 houses and the LLC. However I own
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2 Replies

Where do I add in an LLC that I open in 2018?

Did you elect S Corp tax status?
JulieR
Expert Alumni

Where do I add in an LLC that I open in 2018?

If you are a single member LLC and are electing to file using Schedule C of your individual return, rather than filing Form 1065 for the LLC you will start by opening your return and clicking on the "Income & Expenses" tab of the return. Then click "Edit/Add" next to Self-employment income and expenses. After adding the details about your business, you will be able to enter the 5 rentals under Assets of the business (LLC).

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