Hi, I have a real estate biz, yes I have an LLC registered.
I currently put all my properties and expenses and depreciation and rental income into schedule E.
However, I got a new truck and I'd like to put that into Schedule C instead, and I'd like to start putting other business related expenses that I use on ALL my properties into schedule C.
If I put just a few things into Schedule C, does this somehow mean that I have to put everything into schedule C?
Are there any advantages to doing Schedule C other than the S-Corp 1120 method to pay myself at a lower tax rate? I have no reason to use schedule C at the moment because I have a very low tax burden because I do renovations and then hold the properties so I have a lot of write offs.
Thanks!
