If the property is not held in the name of the SMLLC or the holding company, all rental income and expenses should be reported by the owner. If that is an individual, the rental activity would be reported on Schedule E of a Form 1040 individual tax return.
You may wish to consult a local tax or legal professional on the structure of these companies and the issue of the property title. The outcome may change how you file tax returns both this year and in the future.
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