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Get your taxes done using TurboTax
If you have all your rental properties under your LLC then you will file your rental activities on Schedule E. The LLC will issue K-1s to each member for their share of the LLC activities.
Limited liability companies (LLCs) are pass-through entities by default. Unless the owners of the LLC file paperwork to change the company's tax status, the IRS and state tax agencies tax LLCs as sole proprietorships (for single-owner and husband-wife-owned companies) or partnerships (for multi-owner companies).
The best approach can only be determined by you and all the members of the LLC as a group.
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March 13, 2022
8:20 PM