Carl
Level 15

Business & farm

This is my first year doing a real estate llc-

Doing what "exactly"? This *REALLY* matters, big time. Are you a real estate agent selling property? Maybe you are the sole owner of rental property in both states? Maybe not? Is it a single member LLC or multi member LLC?

All this matters because when it comes to taxes, you *could* be making the biggest mistake of your "business" that will cost you dearly down the road.