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posted Jun 4, 2019 8:55:12 PM

Do I need to claim anything when i transferred personally owned rental property to a single owned LLC?

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1 Best answer
Level 15
Jun 4, 2019 8:55:13 PM

If you are the single owner of the LLC then on a tax return you will still file a Sch E just like normal ... the LLC is a disregarded entity for income tax purposes and there is nothing special you need to do.

1 Replies
Level 15
Jun 4, 2019 8:55:13 PM

If you are the single owner of the LLC then on a tax return you will still file a Sch E just like normal ... the LLC is a disregarded entity for income tax purposes and there is nothing special you need to do.