Should one who has three rental properties in three separate LLCs be filing using the Schedule E or is there a separate filing process for example a S-Corp's 1120-S?
I was recently told that if I have a LLC that I should be getting a K-1 as LLCs are audited less than 1040s. Any truth to this?
The Schedule E only asks for addresses and not LLCs so from a tax perspective I don't see the benefit of the LLC. Thank you.
