Hello,
My wife and I are filling jointly with TT Home & Business in NJ. We created 2 partnership LLCs in NJ. We obtained 2 rental properties in NJ last year.
- Unit 1: ownership starting Jan 2021; deed transferred to our partnership LLC #1 in June 2021.
- Should the Unit 1 rental income be split between personal/Schedule E (Jan-June) and 1065/K-1 (July-Dec)?
- Unit 2: ownership starting June 2021; deed not yet transferred to our partnership LLC #2.
- So, no need to file 1065/K-1 for Unit 2 yet, correct? (just report via perosnal/Schedule E?)
Thanks in advance for your advice and help.
