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I own an LLC that owns some property - where do I declare?
Do I declare under self-employment or under rental property?
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September 11, 2019
2:32 PM
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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).
September 11, 2019
2:49 PM
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Yes but it's owned by the LLC and the mortgage is under the LLC as well
September 11, 2019
3:04 PM
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It is still entered in the Rental section of the program.
September 11, 2019
3:09 PM
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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.
September 11, 2019
4:34 PM