markls
New Member

Rental properties as LLCs, is a schedule E needed on personal taxes?

The family has several rental properties, which are set up as LLCs (partnerships). Filed business taxes for each one. Provided K1s to each partner, including myself. I've entered the K1s into Turbotax. When Turbotax reviews and checks for errors, it says that Schedule E is not complete. I didn't think a Schedule E is required if business taxes are filed. If it is required, why didn't  Turbotax fill this out, or prompt me during the walk-thru to complete it? Without prompting, I'd have to manually complete the form, right?

 

If it's not required, can I just delete the Schedule E form and move on?