I have a rental property in an LLC, hence Schedule C. The tax liability I see, is the final number on the forms.
Okay, that makes sense.
No it doesn't. Typically, that would not matter. For a long term residential rental property, that gets reported on SCH E. Doesn't matter if the property is in an LLC.
There are other circumstances where the income would be reported on SCH C. But just because ownership of the proeprty was transferred to an LLC isn't one of them.
