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Investors & landlords
@BrotherRick wrote:And to clarify, it is a single member LLC.
For income tax purposes, a Single Member LLC is "disregarded" (assuming the LLC has not elected to be taxed as a corporation).
That means you report it exactly as if YOU owned it. So yes, it goes on Schedule E and for income tax purposes can be reported as if nothing changed.
‎January 6, 2021
8:48 AM