PatriciaV
Employee Tax Expert

Investors & landlords

To expand on what MMTaxMM has said:

 

1. No, you do not need to file a separate return for the LLC. Instead, report this activity on Schedule C.

2. No, you will file MFJ as you have in the past. The grantor trust itself is a disregarded entity that is simply listed as the "owner" of the LLC.

3. While some business returns are due on March 15, you will not file any this year.

4. The due date for your personal tax return does not change unless you request an extension of time to file.

5. Yes, TurboTax Premier will handle the LLC rental activity to be reported on Form 1040.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"