We had an accountant prepare the taxes for our LLC. There is both rental and royalty income associated with this small LLC. There was no Schedule E included with the K-!, yet Turbo Tax is generating one as I prepare my taxes. Turbo Tax says that income from rental real estate and income from royalties must be reported as separate properties on Schedule E. I called the accountant's office and was told that Schedule E's are not used with LLC's.
