I had bought some office space through this LLC that I rented out.
this normally has to be reported on schedule E not schedule C but we do not have a full picture of what took place in 2021
you need to report the rental activity separate from an activity in which you sold products or services. if the schedule C reports net income that's subject to self-employment taxes. any rental activity loss can not be used to offset this income. in addition, if the rental activity produced a loss, it may not be deductible due to passive activity rules. if you are confused about this, you need to seek out a pro so your reporting is proper. start out wrong this year and ensuioing years are likely to be wrong. you may want to look yo Turbotax live which for an additional fee will prepare your returns.
