MinhT1
Expert Alumni

Investing

A single member LLC is a disregarded entity for the IRS.

 

Please read this IRS document for more information.

 

You do not file a separate tax return for your single member LLC.

 

Your rental activity is reported on your personal tax return in Schedule E,

 

Although the LLC may have a separate account, it is considered like your personal bank account. You can deposit funds into it or draw funds from it and the cash movements are not reported on your tax return. You only pay tax on any rental profit in your personal tax return.

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