Well, I have 16 rentals and have been filing schedule Es on each of them for at least a decade using Turbo Tax for home and business. So I don't believe the 15 property limitation. The LAST time I filed was on 10/14/2020 and the IRS has accepted the return -- I filed via E-file.
My issue is that I put all of the properties into one multi-partner LLC in order to isolate them on the recommendation of two Real estate attorneys and two Accountants.
I have been using Turbo Tax since the mid-nineties and have all of the individual property tax information on Turbo Tax for Home and Business. I have purchased Turbo Tax for Business and want to move all of the properties from ownership of me and my wife's joint return to a tax return for the LLC. All properties are individually owned by the LLC and the LLC is jointly owned by me and my wife.
Soooooooooo -- The question is how do I move all of the Schedule E information from the 2019 joint personal return in the 2019 Turbo Tax for Home and Business to the 2020 LLC return in Turbo Tax for Business? Is their a direct import and TT works it magic to parse out all of the personal income/expense, or do I have to do something different. My intention is that I want to continue to keep the properties on individual schedule Es.
