1. I have few rental properties in my single Member LLC.
( Considered as disregarded LLC for Taxes)
2. Lender will give me a 1098 Interest Paid Statement in my LLC Name
with LLC EIN
3. I collect rent in LLC name from tenants
Question
1. Where will this 1098 Interest paid ( On Mortage) go on my tax return? Which schedule?
2. I will have to enter rent as income - I assume it will be the same schedule where I will enter the interest paid?
3. If I was to enter on Schedule C - where exactly does rent income go?
4. Where is depreciation calculated for the property? Schedule E, I can see turbo Tax calculate for properties that are in my name.
Many Thanks in Advance.
