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Investors & landlords
If it's a single member LLC, nothing concerning the rental gets reported on SCH C. It all goes on SCH E.
If it's a multi-member LLC, then the LLC completes a physically separate 1065 Partnership/Mutli-member LLC tax return and all rental income/expenses are reported on the 1065.
The partnership will then issue each member a K-1, which each member will need to complete their individual 1040 tax return. Information from the K-1 will end up on page 2 of the SCH E that is a part of the individuals personal 1040 tax return.
March 13, 2022
8:45 AM