I have two rental properties under my LLC and four rental properties that are not. Do I list all of them under Rental and Royalty Summary?

 
PatriciaV
Expert Alumni

Investors & landlords

Yes, if you are the sole owner of the LLC, all the Rental Properties are considered to be owned by you. A single-member LLC is "disregarded" by the IRS, meaning that you and the LLC are one entity as far as the IRS is concerned.

If, however, the LLC is owned by several members, it must file a separate tax return. In that case, you would enter the information from Schedule K-1 from the LLC, rather than entering the rental activity.

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