Started a vacation rental business early in 2024. Created/moved the property into an LLC May 2024. Joined AirBnb/VRBO in Oct 2024. I have no rental income for 2024, but am claiming expense deductions. Completed Desktop TT Premier with no review errors. Kentucky Form 725 states I owe the min LLET of $175.
Going through the interview again. Screen "Tell us about this Return"..... Check applicable for solo LLC (single membership) offers 6 choices with no explanation of the choices (Initial, Final, Change Acc Period, Short Per Return, Qual passthrough, Amended). I chose Final Return (also tried Initial Return). Taxable Income Screen: all entries are $0. Need better description of choices. Why min tax due if no earnings?
