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Investors & landlords
You should actually seek guidance from a tax professional since you will need to file a return for the LLC (Form 1065) for each year the LLC owns the property if it is used for rental purposes and has either income or expenses.
If you have neither income nor expenses (related to rental use or otherwise) in the following tax years, then a 1065 will not be required to be filed.
As an addendum, if your sole objective was to avoid probate, there are more efficient ways to do so beyond creating a multi-member LLC to hold title to the property.
‎December 17, 2023
10:22 AM
1,836 Views