BillM223
Expert Alumni

Business & farm

Probably not.

 

"...a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation." See this IRS webpage.

 

So you need to file a partnership return (unless you elected to be taxed as a SubS corporation). Then the LLC would issue K-1s to each of you to add to your returns.

 

The exception is if 

  • you and your girlfriend are considered married in your state, and
  • you live in a community property state

In this case, you would each file a Schedule C on your 1040s, splitting the income and expenses in proportion to your involvement with the Airbnb.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~