Please help! I've spent all morning trying to figure this out. My wife and I purchased a rental property in 2021 and formed an LLC where we are 50/50 members. We self-manage the property. In Turbotax, under the business tab, if I select Yes under 'Did you have any income and expenses for a business in 2021?' it makes me enter my rental income on Form 1099K. I don't think this is correct. However, under the Rental and Royalty section, I select my wife and I are both owners, but it never asks for the LLC/EIN/partnership information.
Which direction do I go? Or do I skip the business section and enter everything under personal?
Thank you so much in advance!
Nick
