Level 2
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Deductions & credits

Do I declare under self-employment or under rental property?
Level 20
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Deductions & credits


@danielabud wrote:
Do I declare under self-employment or under rental property?

Is it rental real estate? If so, enter that under Rental Properties and Royalties (Sch E).

Level 2
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Deductions & credits

Yes but it's owned by the LLC and the mortgage is under the LLC as well

Level 20
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Deductions & credits

It is still entered in the Rental section of the program.

Level 20
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Deductions & credits

A single member LLC is a disregarded entity for income taxes so it is simply reported on the personal tax return on the Sch E.... UNLESS the LLC is incorporated.