We set up an LLC In DC with 2 partners (self and spouse) in 2021, each owning 50%.
The LLC purchased a vacation condo in SC in 2022.
The condo is managed by a rental management company. They set rental rates, collect all rents and send the LLC a monthly payment for earned revenue, after deducting their management fees.
At the end of the year, they sent a 1099-MISC to the LLC.
I was planning for the LLC to pay Federal taxes on that income as a partnership, and sending K-1's to the LLC partners for our Federal tax return.
Does the LLC need to file a state tax return in SC? In DC?
Do I need to file a personal tax return for that income in SC? In DC?
I understand we could treat the LLC as a sole proprietor partnership, since the partners are a married couple, but we'd like the flexibility to sell part or all of our share to other family members in the future.
