- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
I'm curious about this as well and having trouble finding guidance - I have a multi member LLC (husband and wife owned) and the business maintains a shop on my property. We had the LLC pay us a reasonable rent for the property use this year and have a lease agreement in place. Does the LLC need to issue us a 1099 for the rental income/ how is the income reported on my personal return? Can I deduct the rent expense on the LLC return? A link to guidance on this topic would be helpful.
‎February 20, 2021
6:37 AM