My sister and I have an LLC that only holds a building with residential and commercial spaces. In 2024, we sold the building on contract. 2024's tax return included partial rental income and interest income. 2025 was only interest income (1099-INT). Do I need to change the type of business of the LLC? And if so, to what? I'm uncertain on how to proceed with the return.
Thank you for your help!
Carolyn
