We have been renting out a second home (which is in our names - wife and mine) since 2015 and have reported rental income on Schedule E. The lease was also in our names. In June 2018, we started an LLC, and the lease now has the LLC as the landlord. The LLC has a separate business bank account to manage and track income and expenses related to rental property. How should we report the income and expenses where we leased the property in our individual names for half the year and where the LLC leased the property for the remainder?
