We have a family multi-member LLC. It is a vacation cabin. It is not rented only used as a family cabin
(i.e., no income is generated). I have
been filing a 1065 and sending each partner a K-1. Up until this year I was reporting the annual
property taxes on line 14 page 1 of the 1065 but last year I asked the turbo tax forum and someone
got back to me and said do not put the amount on page 1 of the 1065, put it on
line 20 section c of schedule K with a comment (Property Tax, or whatever). This sounds better to me and it is clear for
the other LLC members to take the deduction from their personal income taxes. Does this make sense? We also pay a $25 license statement to the state of Michigan and I would add that there too. Key is we do not have a real business. I have been doing this for 7 years and it has never seemed right putting it where I was putting it and I like what the guy told me last year. I did not do it last year because by the time he got back to me I had already filed.
