MinhT1
Expert Alumni

Investors & landlords

You are correct.

 

Your single member LLC is a disregarded entity for the IRS and you can report all its income and expenses on your personal tax return.

 

As the LLC only has 2 rental properties, you would report rental income and expenses on Schedule E (and not schedule C). And TurboTax Premier is sufficient to do this. You do not need TurboTax Self-Employed.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post