All of your questions will be answered the same way ... there is NO change as to how this will be filed on your tax return. You will continue to file this on the Sch E on the personal return as long as you do NOT incorporate the LLC or register it as a Partnership with the IRS. Personally this step is really a waste of time, effort and money. There is no difference between having the rental in an LLC with a good liability insurance policy and not having the rental in an LLC with a good liability policy. Seriously ... don't get sucked into the hype/fantasy of having an LLC ... it is only a state desination (not a federal one) that does nothing more to protect you then a good liability policy which is the only thing that will actually save your butt.
