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Should I report my rental property income through my property management LLC or directly under each rental unit?
I purchase tools/items used across all 3 properties so I should therefore deduct them under the LLC instead of the individual property. If I report P&L under each rental unit instead of the business, then my LLC will only ever show a loss...which I am not sure is correct in the eyes of the IRS.
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‎June 3, 2019
12:05 PM