Hello -
I hope I explain this well enough so that folks understand the underlying question. My wife and I created 3 LLC's back in 2022. LLC 1 is a holding company for any LLC's that own rental properties, it does not hold the properties themselves. LLC 2 bought a rental property in 2022 (and, accordingly, the LLC is owned by LLC 1). LLC 3 was created for the sole purpose of fixing and flipping houses (we only flipped one in 2022, there has been no activity since). Each LLC has its own yearly expenses, regardless if it owns property or not (registered agent fees and other yearly maintenance fees).
For LLC 2, which holds the rental property, I have added the income and expenses to Schedule E since 2022. For LLC 1, I have added the yearly expenses for 2022 and 2023 to the Schedule E for LLC 2 since I didn't know where to put the expense that would be separate from LLC 2. For LLC 3, I did the same thing in 2023; I added it to the expenses of LLC 2 on the Schedule E since I didn't know where to put it that would be separate from LLC 2 (since it flipped a house in 2022, that year's expenses were added to the Schedule C).
My questions is, is there a place in TurboTax where I can add the yearly maintenance expenses for LLC's 1 and 3 that would be separate from LLC 2, but still show up on Schedule E? If you have any questions, please let me know.
Regards,
Mike
