@dlacross27 wrote:
During 2019, my husband and I established an LLC for our 2 rental properties which we have owned and depreciated on our personal income taxes for years. It is set up as a multi-member LLC.
Note that you can treat your multi-member LLC as a disregarded entity provided you and your husband hold your interests as community property in a community property state.
See https://www.irs.gov/pub/irs-drop/rp-02-69.pdf
Otherwise, a multi-member LLC is not treated as a disregarded entity but as a separate entity that is generally required to file its own federal income tax return (Form 1065).
