As two individuals we jointly own a piece of farmland for rental purposes. We created an LLC in 2021 but have not yet transferred the ownership of the land to the LLC (will be a quit claim). For this first tax filing, we are only looking to deduct the legal startup expenses and claiming no income from the property since the LLC does not own it (yet). (We received our individual 1099-MISC for the income and will claim the incomes, property taxes, etc. on our personal taxes as we have done in previous year.) Turbo Tax desktop app insists on the Form 8825 being filled out but since the LLC doesn't own any property (yet) how do we do this properly?
