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I own a residential rental property and it functions under DBA. I converted it from DBA to LLC in July 2023. How do I report this on my 2023 tax return?
Should all income and expenses be reported under the new LLC? Or should it be divided in half - first half of the year as DBA and rental royalties under 1040 form? And then the second half of the year as LLC under the business section?
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‎April 13, 2024
9:26 PM