I own an LLC and my condo is in the LLC name. Do I file this under a schedule c for rental income or a k-1 for business income?
Residential Rental income is reported on SCH E *no* *matter* *what*. There are no exceptions.
If your rental activity is reported on a K-1 from some type of other business entity that files it's own physically separate tax return, then when you enter the K-1 on your personal tax return everything will show on on page 2 of the SCH E.
If the LLC is owned by an individual, single member LLC or sole propietorship, then everything is reported on page 1 of your SCH E. Under no circumstances and with no exceptions is one penny of residential rental income or expense reported on SCH C. There are no exceptions.
So if rental property is the only thing your SCH C business owns, you have no need to even bother filling out the SCH C.
Did you not read the above maybe, that pertains to "additional information for rental property owners" in this thread?
