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Business & farm
Your LLC is a disregarded entity for taxes; which means there's no tax form for you to file for your LLC. Instead, if you're one member (owner) LLC, then you default to be taxed as self-employed. If you have two plus owners, then you default to be taxed as a partnership. The LLC is for legal purposes to separate losses (lawsuits) from personal assets.
If you're self-employed, you simply report all business income and expenses on a schedule C. If you don't have any, you don't file the form. Otherwise, activity flows through to you; so if there's a rental property, it's simply reported as personal rental income.
If you're self-employed, you simply report all business income and expenses on a schedule C. If you don't have any, you don't file the form. Otherwise, activity flows through to you; so if there's a rental property, it's simply reported as personal rental income.
‎June 6, 2019
12:31 AM